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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.

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a country that has a lower opportunity cost associated with producing a given product compared to another country would have a(n

cluponka [151]

The opportunity cost of manufacturing televisions is lower in country a.Opportunity cost, which is the gain a person, business, or government will have to forfeit when they pick one choice over another, is essential to the notion of comparative advantage.

Comparative advantage in economics refers to the ability of a nation to generate goods or services at a lower opportunity cost than rivals.In his work "The Principles of Political Economy and Taxation," David Ricardo introduced the concept of comparative advantage (1817). If country a has a lower opportunity cost for producing televisions than country b, then country a has a comparative advantage over b in the production of television.Even if another country has an absolute advantage in producing all items, a country with a comparative advantage can create a good at a lower opportunity cost. Say, for illustration, that a nation could only create three different kinds of goods.X, Y, and Z are the products.

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7 months ago

The following selected account balances are provided for Delray Mfg. Sales $ 1,165,000 Raw materials inventory, beginning 35,000

katovenus [111]

Answer:

Cost of goods manufactured = $562,050

Explanation:

Delray Manufacturing

Schedule of cost of goods manufactured

For the current year ended December 31

Beginning Raw materials inventory $35,000

Add: Raw materials purchases $184,800

Raw materials available for sale $219,800

Less: Ending Raw materials inventory $(40,100)

Direct materials used = $179,700

Direct labor $249,000

Primary cost $428,700

Add: Factory Overhead

Factory supplies used $16,000

Indirect labor 48,000

Repairs—Factory equipment 5,250

Rent cost of factory building 52,000

Total factory overhead cost $121,250

Total manufacturing cost $549,950

Add: Beginning work-in-process $58,500

Less: Ending work-in-process $(46,400)

Cost of goods manufactured $562,050

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2 years ago

Elise, an emergency medical technician renders aid to a participant in Forest Trail Marathon, an athletic event. Regarding a sui

viktelen [127]

Answer:

an applicable Good Samaritan statute.

Explanation:

Good Samaritan law protects those that act to help someone the perceive to be injured, ill, in peril, or incapacitated.

This law was put in place to protect bystanders that want to help a person that is injured. They will not be held liable in case of wrongful death or unintentional injury.

So the suit against Elise for negligence by the Forest Trail Marathon participant is not enforceable as she is immune from liability under the good samaritan statute.

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2 years ago

The ____ rate is the interest rate banks charge each other for borrowing or storing money?

Advocard [28]

Answer:

C. Loan interests

Explanation:

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2 years ago

Read 2 more answers

The impact of corruption and fraud on an individual

Gwar [14]

Answer:

The answer is below

Explanation:

The impact of corruption and fraud on an individual is numerous, whether it is coming from a company or a state.

Usually, the impact of corruption and fraud on individuals makes such individuals have a wrong perception of the situation.

If the individual is at the wrong end of corruption and fraud, such individual would miss many opportunities, including access to employment, good health care systems, be exposed to the inefficient quality of standard of living, and many more. Hence, such an individual would believe that little to nothing works in his immediate environment.

In the same vein, if such an individual is gaining from fraud and corruption, he would believe the situations are right for him, and that it is perfectly normal to cheat, lie, and bribe his way through to success. Hence, such an individual would see the world as the best fraudster or most corrupt rules the world and it would be a normal thing to him.

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2 years ago