Solid gold. There is a 50% chance that the price of gold will go up $25 an ounce; a 20% chance that it will remain the same; and a 30% chance that it will drop to $40 an ounce. What is the expected value of a purchase of gold? Given your answer, would you invest in gold at this time if gold cost $375 per ounce?
Solid gold. There is a 50% chance that the price of gold will go up $25 an ounce; a 20% chance that it will remain the same; and a 30% chance that it will drop to $40 an ounce. What is the expected value of a purchase of gold? Given your answer, would you invest in gold at this time if gold cost $375 per ounce?
Solid gold. There is a 50% chance that the price of gold will go up $25 an ounce; a 20% chance that it will remain the same; and a 30% chance that it will drop to $40 an ounce. What is the expected value of a purchase of gold? Given your answer, would you invest in gold at this time if gold cost $375 per ounce?
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Discrete Distributions: Binomial, Poisson and Hypergeometric | Statistics for Data Science; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=lHhyy4JMigg;License: Standard Youtube License