Answer:
$3,000
Step-by-step explanation:
There two possible outcomes:
There is a 3/4 chance that the bid is rejected for a value of -$1,400
There is a 1/4 chance that the bid is accepted for a value of $17,600 - $1,400.
The expected value of the situation is:
The expected value is $3,000.
Answer:
1 2/3 x 9/16
Step-by-step explanation:
Step-by-step explanation:
Answer:
see below
Step-by-step explanation:
1 million
1,000,000 seconds * 1 hour/ 3600 seconds * 1 day/ 24 hours * 1 year / 365 days
.031709792 years
Rounding to 3 decimal places
.032 years
50 years * 365 days/ 1 year * 24 hours/ 1 day * 3600 second / 1 hour
1577000000 seconds
46 inches * 1 ft/ 12 inches * 1 mile/5280 ft
0.000726 miles
In order to calculate the amount, we simply substitute the number of years into x in both equations.
After 3 years:
f(3) = 5(3) + 150
= $165
g(3) = 150 * 1.03⁽³⁾
= $163.90
After 10 years:
f(10) = 5(10) + 150
= $200
g(10) = 150 * 1.03⁽¹⁰⁾
= $201.59
After three years, the first account has more money but after ten years, the second account has more money.