A case of 600 past negligence cases showed 80% of the plantiffs were awarded damages. Of that 80%, the plantiffs recieived only 50% of their requested amount. The plantiff requested $5,800, but would be reduced to $2,900if awarded the victory. Here are the questions asked of me: 4. (This question I am unable to understand at all and how to relate it to the previous questions) Determine the expected value of the amount that could be paid to Gunter in a settlement. Use the 80% probability figure. Also determine a maximum and minimum expected value for the settlement figure based on the confidence interval above. Be sure to include all the damages Gunter will be able to recover. How would you interpret your expected values?

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Solution A qunler ... View the full answer