In February, Campus Cycle Repair had income from sales of $16,000. Expenses for the month included: rent, $1,250; utilities, $45
1 answer:
Answer:
Profit $5700
Step-by-step explanation:
To find loss/profit you subtract the expenses from the total income
Income from sales= $16000
Franchise fee= 5% of sales income
Rent=$1250
Utilities=$450
Wages=$4800
insurance=$300
supplies=$2700
Total expenses
=$1250+$450+$4800+$300+$2700+$800=$10300
Total income
=$16000
Profit
=$16000-$10300=$5700
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Answer:
The expected value of the game to the player is -$0.2105 and the expected loss if played the game 1000 times is -$210.5.
Step-by-step explanation:
Consider the provided information.
It is given that if ball lands on 29 players will get $140 otherwise casino will takes $4.
The probability of winning is 1/38. So, the probability of loss is 37/38.
Now, find the expected value of the game to the player as shown:
Hence, the expected value of the game to the player is -$0.2105.
Now find the expect to loss if played the game 1000 times.
1000×(-$0.2105)=-$210.5
Therefore, the expected loss if played the game 1000 times is -$210.5.