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5397金融与交易中等数值题short

No-Loss Quote After Order Flow 2

题目

Value is either 49 or 51 with prior P(high)=0.45. If value is high, the probability of a sell order is 0.22; if value is low, it is 0.75. You observe a sell order and must set the break-even bid. What price avoids expected loss?

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