Use the 75% 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 of the damages Louis Matthew will be able to recover. How would you interpret your expected values?

The plaintiff (Louis Matthew) makes the following proposal:

- A payment of $800 as reimbursement for the unnecessary expenditure to Mr. Isaac.

- A payment of $5,000 to cover the cost of his time to reconstruct lost materials used in his job.

ANSWER

IN THIS CASE, THE LOWER LIMITE AND UPPER LIMITE 75% PROBABILITY FIGURE IS (O.72, 0.78)

expected value =0.75* total amount

ANSWER FOR EXPECTED VALUE:

50 % OF THE PAYMENT IS ACCEPTED SO: 800 *0.50 =400 AND 5000*0.50 =2500

400+2500= 2900 ALSO TOTAL AMOUNTH IS 2900

ACCORDING TO FORMULA ========== expected value =0.75* total amount

expected value =0.75* 2900

expected value= 2175

please mention the main problem statement here for further evaluation now

HOW CAN I FIND BELOW WITH THIS FORMULA IS BELOW WHEN I HAVE THE EXPECTED VALUE

the lower limit of expected value =0.72 * amount ?????????????????????

the upper limit of expected value =0.78 * amount ????????????????????

I am online, please guide me and help me to find numbers of the lower limit of expected value and upper limit of expected value