a slot machine with winning probability p, the expected value of log of return is given by the function
Posted: Wed May 11, 2022 2:55 pm
a slot machine with winning probability p, the expected value
of log of return is given by the function
f(a) = plog(1 + a) + (1 - p) log(1 – a)
For any p with 0.5 < p < 1, show that there exists an a* e [0, 1] such that f(a*) > 0.
of log of return is given by the function
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For any p with 0.5 < p < 1, show that there exists an a* e [0, 1] such that f(a*) > 0.