Hi everyone,
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I experience problem with understanding the trade-off example on p.143 of Schweser notes. Especially, my concern is point 6W 4L on the curve - what happens with two extra hours the individual has available in a day?
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P. 148 Cancellation process for the outcomes is also not 100% clear. How come total probabilities afte cancellation do not sum to 1? What is the meaning of this outcome at all?
Thank you for the help.