Question: Let's assume that after graduation, you have two options: Either you are going to set up a consulting firm with your friends or you

Let's assume that after graduation, you have two options: Either you are

Let's assume that after graduation, you have two options: Either you are going to set up a consulting firm with your friends or you are going to accept an offer of a firm with an annual total salary of 50,000 TL. If you set up your own consulting firm, following three events may happen: i) Your firm becomes very successful and each partner gets 150,000 TL. per year with 0.2 probability. ii) Everything goes alright and each partner gets 70,000 TL per year with 0.5 probability. iii) Things do not happen as you expected and each partner looses 100,000 TL. monetary value(EVM) B) What Would be your decsion A) Find expected monetary Value (EVM)

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