managerial economics

Project Description:

in the final round of a tv game show, contestants have a chance to increase their current winnings of $1 million to $2 million. if they are wrong, their prize is decreased to $500,000. a contestant thinks his guess will be right 50% of the time. should he play? what is the lowest probability of a correct guess that would make playing profitable?
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Price Type: Fixed

Project Budget: $0 to $10
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