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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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The production possibilities model shows an inverse relationship between the amount of one thing that can be produced and the am
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If you want to compare two different investments, what should you calculate?
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4 years ago
cyber security systems had sales of 3,700 units at $75 per unit last year. the marketing projects of a 10 percent increase in un
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Answer:

$393,162

Explanation:

Units sold last year were 3,700

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projected units sales for this year will be

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=4,070 units

The selling price last year was $75.

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