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scoundrel [369]
3 years ago
8

You are in the market for a used car and decide to visit a used car dealership. You know that the Blue Book value of the car you

are looking at is between $20,000 and $24,000. If you believe the dealer knows as much about the car as you do, how much are you willing to pay? Why? Assume that you care only about the expected value of the car you will buy and that the car values are symmetrically distributed.
Business
1 answer:
Artemon [7]3 years ago
3 0

Answer:

The expected value of the car you will buy is $22,000

Explanation:

In the given question, the car values are symmetrically distributed which means that we have to compute the mean between the values that are mentioned in the question.

So, the mean is an average of the numbers, the computation is shown below:

= (Value 1 + value 2) ÷ (number of observations)

= ($20,000 + $24,000) ÷ 2

= $22,000

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liberstina [14]

Answer:

Turnover = 4.02

Explanation:

Below is the given values:

Total sales = $25720000

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Use the below formula to find the turnover.

Turnover = total sales / Average operating assets

Now plug the values in the formula and divide the total sales from average operating assets.

Turnover = 25720000 / 6400000

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viktelen [127]
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How do humans respond to price? How does this relate to the study of economics?
vagabundo [1.1K]
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____ emphasized designing and managing organization on an impersonal, rational basis through such elements as clearly defined au
AURORKA [14]

Answer:

bureaucratic organizations

Explanation:

Bureaucratic organizations -

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7 0
3 years ago
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Flura [38]

Answer:

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The Samoan marketing director should research the geography of New Zealand and Australia because it is very different from Samoan geography. He should also complete a demographic analysis (income bracket, gender, and age fall under this category) in order to profile possible customers.

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