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Improve life expectancy

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Reference no: EM131212307

You are seeking medical advice for an experimental treatment that may improve your life expectancy. The doctor informs you the probability of success after the treatment is 60% to live 20 more years and the probability of failure is 40%. If it fails, you will die and if you do nothing you will live less than the 5 years. Based on the expected value of this situation, what would you decide? Do you agree with this decision or not? Why?

Reference no: EM131212307

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