Shouldn’t the expected value be $1000 (10p)*(1-p^10) or $1000 (10p − 10p^11) ? (p now maximised at 0.7868… giving EV $7.15K)
That does look right.
Shouldn’t the expected value be $1000 (10p)*(1-p^10) or $1000 (10p − 10p^11) ? (p now maximised at 0.7868… giving EV $7.15K)
That does look right.