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Umnica [9.8K]
3 years ago
12

The Powerball lottery is open to participants across several states. When entering the powerball lottery, a participant selects

five numbers from 1-59 and then selects a powerball number from the digits 1-35. In addition, there’s a $1 million payoff for anybody selecting the first five numbers correctly. • Show that the odds of winning the Powerball Jackpot are 1 in 175, 223, 510. • Show that the odds of winning the $1 million are 1 in 5, 153, 632. On February 18, 2006 the Jackpot reached $365 million. Assuming that you will either win the Jackpot or the $1 million prize, what’s your expected value of winning? Mega Millions is a similar lottery where you pick 5 balls out of 56 and a powerball from 46. Show that the odds of winning mega millions are higher than the Powerball lottery On March 30, 2012 the Jackpot reached $656 million. Is your expected value higher or lower than that calculated for the Powerball lottery?

Business
1 answer:
sweet-ann [11.9K]3 years ago
6 0

Answer:

Following is given the detailed solution to the question given.

I hope it will help you a lot!

Explanation:

You might be interested in
________ refer to people in an organization's buying center who affect the buying decision; they often help define specification
joja [24]

Influencers refer to people in an organization's buying center who affect the buying decision; they often help define specifications and provide information for evaluating alternatives.

<h3><u>Explanation:</u></h3>

The term influencer refers to the persons who has the power in affecting the decisions related to the purchasing of any product. The decisions that are associated with the purchase made by other persons are influenced by the influencer because of the knowledge, authority, relationship or the position the has with the other person.

In the context of business and marketing, Influencers refers to those people who has the ability in affecting the purchasing or buying decisions. They influence the buying decisions of the audience by providing the information regarding the specifications definitions and also how to evaluate and choose among the different alternatives.

4 0
3 years ago
4. Labour Institutions Act(10MKS)
lord [1]

Answer:

  • Reduce discrimination.
  • Reduce exploitation.
  • Reduce inequality/ poverty.
  • Increase productivity.
  • Economic growth.

Explanation:

It is necessary for the government to regulate wages because some companies might take advantage of little regulation to get away with many unjust and unethical actions as they chase profits or due to personal bias.

Without government regulation, there would be wage disparity between races and genders so regulation reduces that. Exploitation will also be reduced because companies will not take advantage of unemployment rates to make workers overwork themselves to keep their jobs.

Regulated wages will reduce inequality in social classes as well as poverty rates as people will be paid closer to what they deserve.

Regulated wages will also lead to improved productivity as people will be more encouraged when they are working knowing they are getting paid appropriately so they will work harder.

With people being paid appropriately, they will be able to afford more goods and invest more savings which will lead to growth in the economy.

4 0
3 years ago
What is a stock market? What is an example of a stock market?
g100num [7]
The stock market is where shares of public limited companies are traded. An example is the New York stock exchange.
6 0
3 years ago
Read 2 more answers
The journal entry a company records for the payment of interest, interest expense, and amortization of bond discount is debit In
stepladder [879]

Answer:

Debit Interest Expense, credit Cash and Discount on Bonds Payable.

Explanation:

The journal entry that a company needs to record for payment of interest is: a debit to the interest receivable account and a credit to the interest income account.

The journal entry that a company needs to record for interest expense is: a debit to interest expense and a credit to cash.

The journal entry that a company needs to record for interest expense is: a debit to interest expense and a credit to discount on bonds payable.

4 0
3 years ago
The cash account for American Medical Co. at April 30 indicated a balance of $334,985. The bank statement indicated a balance of
Bas_tet [7]

Answer:

1. Cash balance according to bank statement $370,000

Cash balance according to company’s records $370,000

2. a. April 30

Dr Cash $42,000

Cr Notes Receivable $40,000

Cr Interest Income / Interest Revenue $2,000

b. April 30

Dr Accounts Payable - Targhee Supply Co $6,840

Dr Miscellaneous Expenses [Bank service charge] $145

Cr Cash $6,985

3. $370,000

Explanation:

1. Preparation of a bank reconciliation

AMERICAN MEDICAL COMPANY

Bank Reconciliation

April 30

Cash balance according to bank statement $388,600

Add: Deposit of April 30, Not recorded by bank $42,500

Add: Bank Error in Charging check as $420 instead of $240 [$420 - $240] $180

Deduct: Outstanding Checks $61,280

Adjusted balance $370,000

Cash balance according to company’s records $334,985

Add: Note and Interest Collected by bank $42,000

Deduct: Error in Recording Check [$7,600 - $760] $6,840

Deduct: Bank Service Charges $145

Adjusted balance $370,000

2. Preparation of Journal entries.

Journal entries

a. April 30

Dr Cash $42,000

Cr Notes Receivable $40,000

Cr Interest Income / Interest Revenue $2,000

b. April 30

Dr Accounts Payable - Targhee Supply Co [$7,600 - $760] $6,840

Dr Miscellaneous Expenses [Bank service charge] $145

Cr Cash $6,985

($6,840+$145)

3. Based on the information given If a balance sheet is prepared for American Medical Co. on April 30, the amount that should be reported as cash will be $370,000

8 0
2 years ago
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