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Economics

A scalper is considering buying tickets for a particular game. The price of the ticket is $75, and the scalper will sell them at $150. However, if she can't sell them at $150, she won't sell them at all. Given that the demand for tickets is a binomial random variable with parameters n = 10 and p = 1/2, illustrate how many tickets should she buy in order to maximize her expected profit?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9275379

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