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QUESTION
You have been offered a business deal. You estimate that there is a 3% chance of making $100,000; 7% chance of making $40,000; a 20% chance of making...
You have been offered a business deal. You estimate that there is a 3% chance of making $100,000; 7% chance of making $40,000; a 20% chance of making $10,000; and 70% chance of making $0. How much should you be willing to pay for this deal?
