You bought a $100 ticket for an upcoming football match but after a few days you found out that the weather forecast is suggesting a 2-to-1 odds of rain on the day of the game. Suppose your willingness to watch a footbal match in rain drops by 50%. what is the optimal price you would like to offer your ticket for resale? Assume that the population willingness to pay for the match is uniformly distributed with mean of $95 and a standard deviation of $30. further, assume the weather has a negligible effect on the overall distribution of the populations willingness to pay.

You bought a $100 ticket for an upcoming football match but after a few days you found out that the weather forecast is suggesting a 2-to-1 odds of rain on the day of the game. Suppose your willingness to watch a footbal match in rain drops by 50%. what is the optimal price you would like to offer your ticket for resale? Assume that the population willingness to pay for the match is uniformly distributed with mean of $95 and a standard deviation of $30. further, assume the weather has a negligible effect on the overall distribution of the populations willingness to pay.

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Description: You bought a $100 ticket for an upcoming football match but after a few days you found out that theweather forecast is suggesting a 2-to-1 odds of rain on the day of the game. Suppose your willingness towatch a footbal match in rain drops by 50%. wh

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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