Jim likes to day-trade on the Internet. On a good day, he averages a $1400 gain. On a bad day, he averages a $700 loss. Suppose that he has gooddays 20% of the time, bad days 50 % of the time, and the rest of the time he breaks even. What is the expected value for one day of Jim's day-trading hobby?Answe

Answer On a good day, he averages a 1400 gainOn a bad day, he averages a 700 loss.he has a good days…

Answered: Jim likes to day-trade on the Internet.…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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You invest $2,000 in a mutual fund paying 9% interest. It takes about 7 years for your initial investment of $2,000 to double to $4,000. How long would it take your $4,000 to then double to $8,000? Choose the best answer. Year Beginning Interest End 180.00 $ 2,180.00 196.20 $ 2,376.20 213.86 $ 2,590.06 2,000.00 $ 1. 2,180.00 $ APR 9% 2. 2,376.20 $ 3 2,590.06 $ 233.11 $ 2,823.16 4 2,823.16 $ 254.08 $ 3,077.25 3,077.25 $ 276.95 $ 3,354.20 3,354.20 $ 301.88 $ 3,656.08 3,656.08 $ 329.05 $ 3,985.13 3,985.13 $ 358.66 $ 4,343.79 4,343.79 $ 390.94 $ 4,734.73 About 14 years About 7 years About 21 years About 10 years
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