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
maks197457 [2]
3 years ago
14

You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery

. In this lottery there are one $450 prize, two $110 prizes, and four $25 prizes. Find your expected gain or loss. (Round your answer to two decimal places.)
Business
2 answers:
Eduardwww [97]3 years ago
5 0

Answer: The expected loss is $2.3

Explanation:

Total number of tickets to be sold = 100 tickets

one $450 prize, the expected gain = 450 x (1/100)  = $4.5

two $110 prizes, the expected gain = 110 x (2/100) = $2.2

four $25 prizes. the expected gain = 25 x (4/100) = $1

Expected gain (loss) = Total expected gain - Cost of the ticket

                                  = (4.5 + 2.2 + 1 ) - 10

                                  = (2.3)

The expected loss is $2.3

Over [174]3 years ago
3 0

Answer:

$2.3

Explanation:

cost per ticket = $10

Total number of tickets to be sold = 100 tickets

since there are 100 tickets the probability that you would win any of the prize would be:

For the one(1)  $450 prize

 expected gain = 450 x (1/100)  = $4.5

For the two(2) $110 prizes

expected gain = 110 x (2/100) = $2.2

For the four(4) $25 prizes.

 expected gain = 25 x (4/100) = $1

Expected gain (loss) = Total expected gain - Cost of the ticket

= (4.5 + 2.2 + 1 ) - 10 = - 2.3

The expected loss is $2.3

You might be interested in
Item9 5 points eBook ReferencesItem 9Item 9 5 points Item Skipped Determine whether each of the following statements is positive
lubasha [3.4K]

Answer:

Positive statement is defined as the statement which are fact based and tells us the reality and these statements can be tested, amended or rejected on behalf of the evidence.

Normative statement is defined as the statements which includes suggestions or opinions that can be tested by observing the evidence. These are the subjective statements.

(a) Positive statement

(b) Normative Statement

(c) Normative Statement

(d)  Positive statement

(e)  Positive statement

(f) Normative statement

5 0
3 years ago
On january 14, sheridan company purchased supplies of $420 on account. the entry to record the purchase will include:______.
devlian [24]

Entry to record the purchase will include <u>a debit to supplies and a credit to accounts payable</u>.

Accounts payable (AP) are amounts because of companies or providers for goods or services acquired that have not been paid for. The sum of all tremendous amounts owed to providers is shown as the money owed payable stability at the enterprise's stability sheet.

A debit will increase asset or fee debts and decreases legal responsibility, sales, or fairness debts. A credit is continually located at the proper aspect of access. It increases legal responsibility, revenue, or equity money owed and reduces asset or cost money owed.

Purchasing is the buying of goods or offerings. An item that has been bought is known as a purchase. the opposite of a purchase is a sale. In not unusual usage, the shorter word "purchase" is usually used whilst buying, instead of the phrase "buy".

Learn more about assets here brainly.com/question/25746199

#SPJ4

5 0
2 years ago
You’re a bright, female investment analyst about to give a major presentation to a group of bankers supporting a corporate acqui
Ivanshal [37]

Explanation:

In this case, the ideal is to reject a task that is not mandatory in your contract. The boss's attitude in this situation was somewhat sexist, as it reduced the professional skills of a female investment analyst to having to be liked and serving coffee to bankers, since the professional was there to make a great professional presentation.

These unprofessional attitudes can be combated with an assertive attitude, without the professional feeling cornered by the possibility of suffering reprisals, but it is by maintaining an ethical, professional attitude and imposing respect, that it is possible for such unethical acts to be combated and not accepted any more. formal work environment.

7 0
3 years ago
Oliver wrote a short proposal at his supervisors request. his supervisor often works outside of the office. what is the best way
Anarel [89]
The answer would be attaching it to an email. Email enables you to connect finish documents for rapid conveyance anyplace on the planet. Documents can be photos, music, letters, content, spreadsheets or some other perceived configuration. We say "nearly" in light of the fact that most email frameworks won't let you join Microsoft Access database documents without first taking some prudent steps. That is on account of Access records have turned out to be a standout amongst the best routes for programmers to enter sites.
8 0
3 years ago
Read 2 more answers
Amy, who has been an accountant for 12 years, worked for Arnold and Post, a mid-size law firm in Huntsville. At the end of each
mel-nik [20]

Answer:

time period

Explanation:

In accounting, the time period principle states that a firm must report its financial statements for specific periods of time. For example, the Securities and exchange Commission (SEC) requires public corporations to submit their financial reports every quarter. This is done in order for accounting periods to be comparable, e.g. comparing a quarterly report vs an annual report is not correct.

3 0
3 years ago
Other questions:
  • Which of the following correctly orders the investments from LOWER risk to HIGHER risk?
    10·1 answer
  • Suppose you just bought an annuity with 9 annual payments of $15,400 at the current interest rate of 11 percent per year. a. Wha
    8·1 answer
  • Your company obtains a short term loan on September 1st, 2019 to cover costs to purchase inventory. The loan is for $50,000, the
    14·1 answer
  • Mister Jones was selling his house. The asking price was $220,000, and Jones decided he would take no less than $200,000. After
    5·1 answer
  • What is an elevator pitch
    14·1 answer
  • Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Cash balance p
    5·1 answer
  • A company is concerned about the number of customers that have to wait for service in their customer service department. Assume
    5·1 answer
  • A decrease in the price of DVD players leads consumers to buy more DVD players. From this information we can conclude that DVD p
    6·1 answer
  • Josie is the CRM manager for a toy company. Under what pathway in the Marketing, Sales, and Services career cluster would Josie'
    10·2 answers
  • A start-up company has developed some innovative products, but it has no marketing or advertising expertise. It hired The Tullen
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!