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In a certain part of Makati, street parking is charged a flat rate of 70 php per day. However, if you park your car in front of a pop-up restaurant, you either pay nothing or 250 php per day when they are open. Answer the following: If there is a 60% chance of the pop-up restaurant opening, and you decide always to park in front of the pop- up restaurant, will you expect to spend more or less in comparison to when you park in any other street parking in the long run? Answer: Blank 1 (more or less) Also, How much is the difference of parking fee on the average? Answer: Blank 2

In a certain part of Makati, street parking is charged a flat rate of 70 php per day. However, if you park your car in front of a pop-up restaurant, you either pay nothing or 250 php per day when they are open. Answer the following: If there is a 60% chance of the pop-up restaurant opening, and you decide always to park in front of the pop- up restaurant, will you expect to spend more or less in comparison to when you park in any other street parking in the long run? Answer: Blank 1 (more or less) Also, How much is the difference of parking fee on the average? Answer: Blank 2

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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In a certain part of Makati, street parking is charged a flat rate of 70 php per day. However, if you park your car in front of a pop-up restaurant, you either pay nothing or 250 php per day when they are open. Answer the following: If there is a 60% chance of the pop-up restaurant opening, and you decide always to park in front of the pop- up restaurant, will you expect to spend more or less in comparison to when you park in any other street parking in the long run? Answer: Blank 1 (more or less) Also, How much is the difference of parking fee on the average? Answer: Blank 2
Transcribed Image Text:In a certain part of Makati, street parking is charged a flat rate of 70 php per day. However, if you park your car in front of a pop-up restaurant, you either pay nothing or 250 php per day when they are open. Answer the following: If there is a 60% chance of the pop-up restaurant opening, and you decide always to park in front of the pop- up restaurant, will you expect to spend more or less in comparison to when you park in any other street parking in the long run? Answer: Blank 1 (more or less) Also, How much is the difference of parking fee on the average? Answer: Blank 2
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