All categories

1 year ago

You draw and keep a single bill from a hat that contains $1, $10, $20, and $50 bill. what is the expected value of the game?

Business

1 answer:

svp [43]1 year ago

8 0

The Expected value of the game to you is 19 dollars. The Expected value of the game to you is 19 dollars.

Expected value (also called expected value, expected value, mathematical expected value, mean, average, or first moment) is a generalization of weighted average. Informally, the expected value is the arithmetic mean of a large number of independently selected random variables.

The expected value is the probability multiplied by the value of each outcome. For example, a 50% chance of winning $100 is worth $50 to you (if you don't mind the risk). You can use this framework to decide if you should participate in the lottery.

Learn more about Expected value here: brainly.com/question/15858152

#SPJ4

You might be interested in

Once tradable pollution permits have been allocated to firms:

Crazy boy [7]

Answer: D.

firms that can reduce pollution only at high cost will be willing to pay the most for the pollution permits.

Explanation: Tradable pollution permits are so-called cap and trade schemes. They give companies a legal right to pollute a certain amount per fixed time span. Firms that pollute less can then sell their leftover pollution permits to firms that pollute more. Credits are traded within defined trading areas.

Pollution permits, e.g. carbon trading schemes where firms are given the right to pollute a certain amount; these permits can be traded with other firms. Regulation. Limits on a number of pollutants that can be discarded into the atmosphere.

4 0

2 years ago

If real GDP increased from $10 billion to $11 billion from the first quarter of 2016 to the first quarter of 2017, but had incre

Sphinxa [80]

Answer:

10%; 16%

Explanation:

Given that,

Real GDP in the first quarter of 2016 = $10 billion

Real GDP in the first quarter of 2017 = $11 billion

Increased from the fourth quarter of 2016 to the first quarter of 2017 = 4%

Growth rate from the first quarter of 2016 to first quarter of 2017:

= $\frac{GDP_{2017}-GDP_{2016} }{GDP_{2016}}\times 100$

= $\frac{11-10 }{10}}\times 100$

= 10%

Real GDP growth rate is as follows:

= 4% × 4

= 16%

3 0

3 years ago

Strait Co. manufactures office furniture. During the most productive month of the year, 3,300 desks were manufactured at a total

Elza [17]

Answer:

Using the high-low method of cost estimation, total fixed costs are $47,020

Explanation:

Cost at highest level of activity = $82,000.00

Cost at Lowest level of activity = $59,000.00

Highest level of activity = 3,300

Lowest Level of activity = 1,130

Variable cost per unit = $(82,000 - 59,000) ÷ (3,300 -1,130)

Variable cost per unit = $23,000 ÷ 2,170

Variable cost per unit = $10.60

Fixed Costs = $82,000 - (3,300 × 10.60)

Fixed Costs = $47,020

6 0

3 years ago

Lancelot Manufacturing is a small textile manufacturer using machinehours as the single indirectcost rate to allocate manufactur

zhenek [66]

Answer:

$3,927

Explanation:

For the computation of bid price first we need to follow some steps which is shown below:-

Manufacturing overhead rate = Overhead cost ÷ Machine hours

= 45,000 ÷ 100,000

= $0.45

Total manufacturing cost charged to the school

= 2,000 + 400 + (900 × 0.45)

= $2,805

Markup cost = $2,805 × 0.4

= $1,122

Bid price of job = Total manufacturing cost charged to school + Markup cost

= $2,805 + $1,122

= $3,927

7 0

3 years ago

Solving for dominant strategies and the Nash equilibrium

Svetach [21]

Question Completion:

Matrix payoff:

Sharon

Left Right

Paolo Left 8, 3 4, 4

Right 5, 3 5, 4

Answer:

The only dominant strategy in this game is for ___Paolo______ to choose ____Right______.

The outcome reflecting the unique Nash equilibrium in this game is as follows: Paolo chooses ____Right______ and Sharon chooses __ Right_____.

Explanation:

a) Paolo's dominant strategy is the strategy that always provides the greater utility to Paolo, no matter what Sharon's strategy is. In this case, the dominant strategy for Paolo is to choose RIGHT always.

b) The Nash Equilibrium concept determines the optimal solution in a non-cooperative game in which each player (e.g. Paolo and Sharon) lacks any incentive to change their initial strategies. This implies that each player can achieve their desired outcomes by not deviating from their initial strategies since each player's strategy is optimal when considering the decisions of the other player.

3 0

2 years ago