L A UCR student has the following grades on his first quarter Grade 3.3 3.0 4.0

ID: 1209159 • Letter: L

Question

L A UCR student has the following grades on his first quarter Grade 3.3 3.0 4.0 2.7 2.3 Units Class Econ 002 Econ 103 Econ 104 Econ 105 Econ 006 Calculate the GPA, variance, and standard deviation? watching a Baseball ame, the teams II. You and your friend are watching a Baseball game, the teams are X and Y, assume you agreed to give your friend $ 44 if his/her team "Y" wins, also he/she agreed to give you $ 44 if your team "X" wins, probability of team X wins probability of team Y wins 0.5, and your initial wealth is W-$ 100. Answer the following: W1/2, what is your utility if team X wins, if team Y wins, and what is the expected utility of 1. If U(W) wealth EU(w)? 2. What is the expected wealth E(W), and what is the utility of expected wealth U(E(w))?

Explanation / Answer

Econ 002

3.3

0.25

0.825

0.011025

Econ 103

0.2

0.6

0.00162

Econ 104

0.2

0.8

0.16562

Econ 105

2.7

0.15

0.405

0.022815

Econ 006

2.3

0.2

0.46

0.12482

15.3

3.09

0.3259

2(i)

Utility when Team X wins=(100+44)^0.5=12

Utility when Team Y wins =(100-44)^0.5=7.48

Expected Utility= 0.5*12+0.5*7.48=9.74

2(ii)

Expected wealth =0.5*(100+44)+0.5*(100-44)=$100