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  1. Imagine that you were to receive a payment in the future. We define a so-called “day X”, which is in 100 days. The timing of the payment will be described relative to day X.

    Imagine you were to receive $100 4 days earlier than X. In how many days would you receive $100?

    in days

  2. Imagine that you were to receive a payment with some probability. We define a so-called “probability Y” of receiving money, which is 62%. The probability of receiving the payment will be described relative to probability Y.

    Imagine you were to receive $40 with probability Y reduced by 61%. What is the net probability of receiving $40?

    %

  3. Imagine that you were to receive a payment with some probability. We define a so-called “variable Z”, which has a value of 4. The probability of receiving the payment will be described using variable Z.

    Imagine you were to receive $40 with probability 20% times Z. What is the net probability of receiving $40?

    %
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