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
Vitek1552 [10]
3 years ago
8

The EZ Construction Company is offered a ​$20 comma 000 contract to build a new deck for a house. The​ company's profit if they

do not have to sink piers​ (vertical supports) down to bedrock will be ​$4 comma 000. ​However, if they do have to sink the​ piers, they will lose ​$600. The probability they will have to put in the piers is 10​%. What is the expected value of this​ contract?
Business
1 answer:
Olin [163]3 years ago
5 0

Answer:

The contract expected value is 3,540

Explanation:

we multiply each possible outcome by their probability of occur.

sink the piers into bedrock :   (600)  x 10% =      (60)

sink the piers normally:           4,000 x 90% = <u> 3,600 </u>

Net                                                                      3,540

It is important to always have all the probabilities add up to 100% in order to this method to work.

You might be interested in
16. GDP Growth Consider the following data on U.S. GDP: Year GDP (Billions of current dollars) (Billions of 2009 dollars) 2011 1
dmitriy555 [2]

Answer:

The percentage change in nominal GDP from 2013 to 2014 was 4.29%

The percentage change in real GDP from 2012 to 2013 was 1.48%

The percentage change in real GDP from 2012 to 2013 was higher than the percentage change in real GDP from 2011 to 2012. FALSE

Explanation:

In order to calculate this we just have to calculate the percentages with a rule of thirds:

\frac{GDP1}{100}= \frac{GDP2}{x}

To calculate the first one we use the nominal GDP which is the GDP with the current market value:

\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{16,663.2}{100}= \frac{17,348.1 }{x}\\x=\frac{(100)(17,348.1}{16,663.2} \\x=4.29%

To calculate the change in real GDP we use the values adapted to a pre-agreed monetary value, in this case the dollar at 2009:

\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{15,354.6}{100}= \frac{15,583.3}{x}\\x=\frac{(100)(15,583.3}{15,354.6} \\x=1.48%

To calculate the 2011 to 2012 we insert the values:

\frac{GDP1}{100}= \frac{GDP2}{x}\\\frac{ 15,020.6}{100}= \frac{15,354.6}{x}\\x=\frac{(100)(15,354.6}{ 15,020.6} \\x=2.22%

So with this we know that it is wasn´t higher the percentage change from 2012-2013, than that of 2011-2012

5 0
3 years ago
What does an income statement show about a bank over a period of time?
Natali5045456 [20]
Reliability because it shows that you are responsible to pay
6 0
4 years ago
Read 2 more answers
If the potential gross rental income from a property is $20,000, the vacancy rate is 5 percent, and the additional income from t
Serggg [28]

Answer: The correct answer is 19,700

6 0
2 years ago
Which of the following marketing variables is concerned with design, quality,
Daniel [21]

Answer:

A. Product APEX

Explanation:

This is the correct answer.

3 0
3 years ago
How does consumer response to advertising vary on different days of the week and at different times of the day
Romashka-Z-Leto [24]

Answer:

The theme is very complex, however a short explanation of that type of distribution is given below with and example.

Explanation:

To begin with, that distribution of variables will totally depend on the type of product that is being under study. Having that in mind, the distribution to the advertising will be more or less strong on the consumer's attention depending on the day. Therefore that, for example, if the case is about an alcoholic drink or something related to the weekends like clothes for going out or something like that, then the advertising will cause more impact in the consumer on fridays and saturdays and that will be like that because the consumer will now be exposed to the possible situation of going out that exact night so he or she might want to consumer an alcoholic drink.

It will be the same with the hours of every day, if the advertising is shown late at night but before party time, then the consumers will be exposed to that commercial and will the necessity of buying, psychologically speaking.

3 0
3 years ago
Other questions:
  • Artur, who has a disability, is an employee of banquet &amp; event facilities &amp; services, inc. after the installation of new
    9·2 answers
  • Big Canyon Enterprises has bonds on the market making annual payments, with 17 years to maturity, a par value of $1,000, and a p
    6·1 answer
  • Candice’s first job was at the grocery store making deli food. While in culinary school, she worked part time in a restaurant ki
    7·2 answers
  • Monopolies are bad; patents give firms monopoly;therefore, patents are bad. true of false? why?
    8·1 answer
  • cost variance Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2 per lb.) $ 8 per fini
    14·1 answer
  • A firm currently sells $1,750,000 annually of an expensive product line. That firm is considering a similar, less expensive, dis
    13·1 answer
  • Candonia has a comparative advantage in the production of , while lamponia has a comparative advantage in the production of . Su
    15·1 answer
  • Kevin fidgets and taps on things, sighs often, squirms, constantly checks the time, and yells at people when they ask him how a
    11·1 answer
  • You bought four put options (each on 100 shares) on EZ stock with an exercise price of $35 per share and an option price of $1.3
    14·1 answer
  • Why should you include management and staffing issues in your business plan?
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!