A book of 100 tickets are purchased from the university at a discount of $10 each and then sold to the public for $20 each. Any ticket not sold by noon on gameday can be sold for $6. There is a 50% chance that any ticket will be sold before noon.

What is the EMV of your profit?

Answer rating: 100% (QA)

Solution To calculate the EMV of the profit we need to first calculate the expected profit for each ... View the full answer