If he is selling shovels at $19 each, the answer of $153 would be incorrect. If you take $153 and divide that by 8 (shovels) you will get each shovel being a price of $19.125 each.
The overall answer of $153 could be reasonable but the overall price from selling 8 shovels will actually be $154 not $153.
Answer:
it. would. be. an. irrational. number. but. 220.54166. if. you. want. it. rounded. it. would. be. 220.5
Step-by-step explanation:
Answer:
He would run a half of a lap because if he ran a full lap in 2 minutes than in 1 minute it would be half of 1.
Step-by-step explanation:
Answer:
Yes, it is linear
Step-by-step explanation:
The expected value of the outcome of the bid is $0.18
So let's start by counting how many bids are placed up to a total of 160.
100*160 = 16000.
What will be your arbitrary bid? As each bid has an equal chance of success, the average of all bids is used. (One cent plus 160 dollars) / 2 = 80 dollars (rounded)
Your odds of winning are 1/16000 (1 bid out of 16000).
If you win, your profit is 1920 ($2000 minus $80.00).
1920/16000 is $0.12
Your cost to enter the auction is $1, and your average winning offer is $0.12.
The result is $0.18 (0.12-1=-0.88).
Thus the expected value of the outcome of the bid is $0.18
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