The tool cost of $10, 000 and has a 70% chance of working. If it works, your project wl net $15000. Positive emv is calculated as 70%$15000=$10500. If the tool fails negative emv is 30%-$10000=-$3000. Therefore, overall emv=___________? Show your calculations.

Answer rating: 100% (QA)

Youve correctly calculated the Expected Monetary Value EMV for both scenari... View the full answer