Answer and Explanation:
The computation is shown below:
a. The expected value of payout arise from emergency is
= 0.01 × $67,500
= $675
b. The expected value of payout arise from capped coverage insuance is
= (0.9 × $500) + (0.09 × $2,500)
= $675
c. The risk averse shows the minimum exposure with respect to the swings of the income or there would be the loss in the income. Since the payout amount is same in both the cases so here we considered option B
5.16 cubic yards is the answer.
Answer:
monitoring and controlling
Explanation:
The five stages in the project management process are:
- Project initiation
- Project planning
- Project execution
- Project monitoring and controlling: in this stage you must measure the project's performance in order to identify any possible deviation from the project's plan. Project managers should use key performance indicators (KPI) to determine if the project s on track or not. In this case, one KPI was chicken meal and the deviation was steak meal.
- Project closure
Answer:
C) The invisible hand
Explanation:
Daniel here seeking to produce and increase his welfare is "led by an invisible hand" to negotiate with his suppliers and to sell goods to his neighbors in a way that everybody is better off as a result from these transactions.
This is also a clear example to what Adam Smith was referring to the invisible hand:
"in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was not part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. " Adam Smith, The Wealth of Nations, Book 4, Chapter 2
