Answer:
-$2.4
Explanation:
Costs of lottery ticket $10 per ticket.
100 tickets available to be sold
One $430 prize
two $105 prizes
four $30 prizes
100 available tickets -7 prizes= 93
P(430) = 1/100
P(105) = 2/100
P(30) = 4/100
P(-10) = 93/100
-10(93/100) + 30-10 (4/100) + 105-10 (2/100) + 430-10 (1/100)
= -10(93/100) + 20(4/100) + 95(2/100) + 420(1/100)
= -9.3 + 0.8 + 1.9 + 4.2 = -2.4
Therefore the expected loss will be $2.4
The importance of knowing dependent and independent demand models to companies is that it is a way for one to be able:
- To understand inventory.
- Be able to depict the number of units of a specific product that the consumers are said to be willing to by at each price.
<h3>What is independent demand and dependent demand?</h3>
Independent demand is known to be the demand for a given finished product. It can be a machine, a car. etc.
The dependent demand is known to be the demand for a component area of a finished good, such as the wheels on a car.
Note that the Dependent demand is one that is obtained from the demand for a finished product.
Therefore, The importance of knowing dependent and independent demand models to companies is that it is a way for one to be able:
- To understand inventory.
- Be able to depict the number of units of a specific product that the consumers are said to be willing to by at each price.
Learn more about demand models from
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ANSWER: B) activities producing tangible products, such as radios, newspapers, buses, and textbooks
EXPLANATION: Goods production refers to the production of tangible articles from tangible raw materials as well as from intangible inputs such as ideas, knowledge and information, which will have a commercial value and will be beneficial for consumer use and exchange value. Such examples are Radios and Buses which are produced from tangible raw materials and Newspapers and Textbooks which are produced from Information and Knowledge gathered.
<span>Cash equivalents, the investments securities that are for short-term investing, and they have high credit quality and are highly liquid. Cash equivalents, also known as "cash and equivalents," are one of the three main asset classes, along with stocks and bonds. Cash equivalents also serve as one of the most important health indicators of a company's financial system.</span>
