In terms of exchange rates, you can think of the denominator as what you want to buy and the numerator as ________

What is the EMV for Option 1 in the following decision table?

States of Nature Alternatives S1 S2 p .4 .6 Option 1 10,000 30,000 Option 2 5,000 45,000 Option 3 -4,000 60,000 A) 10,000 B) 18,000 C) 20,000 D) 22,000 E) 30,000

A direct quote of $1.6255 dollars to buy one U.K. pound corresponds to an indirect quote of .6152

pounds per one dollar. Indicate whether the statement is true or false