I have found similar ones in few tests but unable to understand how the cost is calculated. The figures are updated so I wouldn't have the right answer.
The rough calculation goes as follows:-
EMV = (5 Million x 50%) + (-2.5 x 30%)
= (2.5) + (Not sure how the cost is calculated here)
How is the following type of question calculated?
If a business has 50% chances to earn $5 million and 30% chances to lose $2.5 million
What is the EMV?
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