It will rain with probability 0.8. if it does, you earn $200 and if not, you earn $400. the expected value is: $200.
This is true because the probability of raining is 0.8%, which is 0.2% away from becoming 1.0%, which is 100%. Since you earn $200 if it rains and the probability of rain is the majority, the expected value is $200.
Tickets are things you use to go into theme parks
Answer:
A. $302,000
Explanation:
The computation of the net income under accrual basis accounting is shown below:
= Billed in revenues on credit - incurred expenses
= $496,000 - $194,000
= $302,000
The prepaid expenses and the received amount would not be considered in the computation part. Hence, ignored it
Only revenues on credit and incurred expenses are considered in the computation part. No other item values would be taken.
Net income is also called net profit. Its formula is: Net income= Total Revenue-Total expensesTotal revenue: 1,000,000Total expenses and taxes: 500,000Net income= 1,000,000-500,000Net income= $500,000
Answer:
Explanation:
f(x) = (1/(15,000-10,000))/0 (elsewhere) = 1/5000
a. What is the probability that a $12,000 bid will be accepted?
P(10,000 < x < 12,000) = 2000(1/5000) = 0.40
b. What is the probability that a $14,000 bid will be accepted?
P(10,000 < x < 14,000) = 4000(1/5000) = 0.80
c. What amount should you bid to maximize the probability that you get the property?
$14,000 is my answer.
$14000 bid has a higher probability, hence a greater chance of being accepted