1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MrMuchimi
3 years ago
11

You and a rival are engaged in a game in which there are three possible outcomes: you win, your rival wins (you lose), or the tw

o of you tie. You get a payoff of 50 if you win, a payoff of 20 if you tie, and a payoff of 0 if you lose. What is your expected payoff in each of the following situations where nature decides if you win or not:
A) There is a 50% chance the game ends in a tie, 10% chance you win (and therefore a 40%
chance you lose).
B) There is a 50-50 chance of winning and there are no ties.
C) There is an 80% chance you lose and a 10% chance you win or tie.
Business
1 answer:
kherson [118]3 years ago
6 0

Answer:

A) There is a 50% chance the game ends in a tie, 10% chance you win (and therefore a 40%  chance you lose).

expected value = (50% x 20) + (10% x 50) + (40% x 0) = 10 + 5 + 0 = 15

B) There is a 50-50 chance of winning and there are no ties.

expected value = (50% x 50) + (50% x 0) + = 25 + 0 = 25

C) There is an 80% chance you lose and a 10% chance you win or tie.

expected value = (10% x 20) + (10% x 50) + (80% x 0) = 2 + 5 + 0 = 7

The expected value of an event is determined by adding up all the possible outcomes multiplied by their respective value.

You might be interested in
3. Which of the following is an example of a goodwill message?
Svetllana [295]

Answer:. focus entirely on the candidate with details such as examples of accomplishments, ...

Explanation:

8 0
3 years ago
Myers Corporation has the following data related to direct materials costs for November: actual costs for 5,000 pounds of materi
Anastasy [175]

Answer:

A. $1,020 unfavorable.

3 0
3 years ago
Read 2 more answers
Valutech Manufacturing uses job order costing for its production of MP3 players. The cost incurred for the current year for the
lyudmila [28]

Answer:

$65 per unit

Explanation:

For computing the cost per unit first we have to determine the cost of goods manufactured which is shown below:

Cost of goods manufactured = Opening work in process + direct material cost + direct labor cost + manufacturing overhead cost - ending work in process

= $10,000 + $12,000 + $6,000 + $4,000 - $6,000

= $26,000

And, there is a production of 400 MP3 players

So, the cost per unit is

= $26,000 ÷ 400 MP3 players

= $65 per unit

8 0
3 years ago
In accounting for a contingent liability, if the likelihood of the obligation is probable but the amount cannot be estimated, a
Tems11 [23]

Answer: d. provide disclosure in the footnotes to the financial statements.

Explanation:

A contingent liability is an obligation that a company might owe in future depending on the outcome of an event such as a law suit.

To record a contingent liability in the books, two conditions must be satisfied;

  1. Loss must be probable
  2. Amount must be estimable

If these two conditions are not satisfied then the contingent liability may simply be disclosed as a footnote in the financial statement. The amount here is not estimable so can be disclosed as a footnote.

6 0
4 years ago
2 The link that distributes a product from a supplier to the consumer is afn)
Kaylis [27]

Answer:

A. supply chain

Explanation:

The supply chain is the entire system that a manufacturer uses to deliver finished products to the intended consumers. The supply chains start from sourcing materials to the processing and distribution of finished goods to final consumers.  The supply chain managers manage the supply chain process.

The supply chain system consists of the manufacturer and some independent entities such as distributors, wholesalers, warehousing service providers, transporters, and retailers.

7 0
3 years ago
Other questions:
  • Catherine had checked the price of an airline ticket in November to fly to Daytona Beach for her spring break. She was surprised
    8·2 answers
  • An IRA uses immediate annuities to pay out benefits; the IRA owner is nearly 75 years old when he decides to collect distributio
    6·1 answer
  • You are a real estate agent thinking of placing a sign advertising your services at a local bus stop. The sign will cost $ 5 com
    14·1 answer
  • The fixed cost of Perfect Pizzas, a pizza restaurant, is $400,000 per year. The cost of ingredients and chef to make one pizza i
    11·1 answer
  • Two decades ago when the United states entered info the North American Free Trade Agreement with Canada and Mexico, there was si
    5·1 answer
  • Southland Company is preparing a cash budget for August. The company has $17,000 cash at the beginning of August and anticipates
    13·1 answer
  • Work that totals less than forty hours per week is considered _____ work.
    11·1 answer
  • Valerie contracts with Esteban, who agrees to build a stone retaining wall and drain on her property. The wall and drain are nec
    7·1 answer
  • Which of the following colors is highly variable and can be either cool or slightly warm, depending on how it is used?
    9·1 answer
  • 10. A person who selects, purchases, uses, or disposes of goods or services is
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!