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
Alex777 [14]
3 years ago
10

The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one:$5200 (1 chance in 89

00); $2500 (1 chance in 6400); $900 (1 chance in 3900); $100 (1 chance in 2100). Find the expected value of the amount won for one entry if the cost of entering is 57 cents.
Business
1 answer:
Alexandra [31]3 years ago
6 0

Answer:

$0.68

Explanation:

Multiply each possible prize by its likelihood and add the results in order to obtain the expected value (Note that there is a 100% of losing 0.57 cents since that is the cost of entry):

EV = 5200*\frac{1}{8900} +2500*\frac{1}{6400} +900*\frac{1}{3900}+100*\frac{1}{2100} -0.57*1\\EV= \$0.68

The expected value of the amount won for one entry if the cost of entering is 57 cents is $0.68

You might be interested in
For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished uni
Lorico [155]

Answer:

Total cost= $350,400

Explanation:

Giving the following information:

For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.

Quarter 1:

Direct labor cost= 5,280*2= 10,560 hours

Quarter 2:

Direct labor cost= 6,400*2= 12,800 hours

Total cost= (10,560 + 12,800)*15= $350,400

7 0
3 years ago
Select one country and consider the export of that country what is the reason for the export
emmasim [6.3K]

Answer:

nepal

Explanation:

reason for export: to sell the product in different places

7 0
3 years ago
Worthington Chandler Company purchased equipment for $12,000. Sales tax on the purchase was $800. Other costs incurred were frei
insens350 [35]

Answer:

d. $13,575

Explanation:

The cost of the equipment includes all the cost incurred to bring the equipment to a state where it becomes available for use.

These costs are the cost of the equipment, sales tax, freight, repairs during installation and installation cost.

Therefore,

Cost of the equipment = $12,000 + $800 + $200 + $350 + $225

                                       = $13,575

The right option is d. $13,575.

3 0
3 years ago
Which of the following is an advantage of first movers? Group of answer choices they are not prone to mistakes they have an oppo
joja [24]

Answer:

they have an opportunity to exploit network effects and positive feedback loops

Explanation:

The first mover advantage refers to competitive advantages that can be achieved by a firm that first enters a market or launches a new product first. E.g. Volkswagen has a first mover advantage in China because it was the first foreign car manufacturer to successfully a car factory there. Another type of first mover advantage would be the ones obtained by Apple for launching the first smartphone.

Network effects refers to a good or service becoming more valuable because more people purchase or use them, e.g. social media apps.  

Positive feedback loops occurs when a company's output is used as a positive input in the productive system, e.g. when a company uses information gathered by customer service (CRM) to improve the products or services it offers.

6 0
3 years ago
A company issues $16200000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The
bekas [8.4K]

Answer:

The amount of interest expense which will be recognized in 2020 is $949,681.45.

Explanation:

The following are given in the question:

Bond value = $16200000

Bond interest rate = 5.8%

Proceed from bond = $15825541

Yield rate = 6%

The amount of interest expense which will be recognized in 2020 can now be calculated as follows:

Interest expense for January 1, 2020 to June 30, 2020 = Proceed from bond * Yield rate * (6 / 12) = $15825541 * 6% * (6 / 12) = $474,766.23

Discount amortized during first 6 months = Interest expense for January 1, 2020 to June 30, 2020 - (Bond value * Bond interest rate * (6 / 12)) = $474,766.23 - ($16200000 * 5.8% * (6 / 12)) = $474,766.23 - 469,800 = $4,966.23

Interest expense for July 1, 2020 to December 31, 2020 = (Proceed from bond + Discount amortized during first 6 months) * Yield rate * (6 / 12) = ($15825541 + $4,966.23) * 6% * (6 / 12) = $474,915.22

Interest expense to be recognized in 2020 = Interest expense for January 1, 2020 to June 30, 2020 + Interest expense for July 1, 2020 to December 31, 2020 = $474,766.23 + $474,915.22 = $949,681.45

Therefore, the amount of interest expense which will be recognized in 2020 is $949,681.45.

3 0
3 years ago
Other questions:
  • Broihan Corporation has the following purchases budget for the last half of 2002:
    12·1 answer
  • Decision Point: Employees’ Personalities You think you did a good job of matching employees to the job to get a good fit, but yo
    6·1 answer
  • The total product curve: a. will become flatter as output increases if there are diminishing returns to the variable input. b. w
    6·1 answer
  • You are making a $120,000 investment and feel that a 10 percent rate of return is reasonable given the nature of the risks invol
    15·1 answer
  • Soft skills are essential career attributes that include communicating effectively, solving problems, making ethical decisions,
    5·2 answers
  • A company bought a $1,000,000 building and $500,000 of land with a $300,000 cash down payment and used a new mortgage to pay the
    10·1 answer
  • Which of the following is a source of income? A. Investment B. House purchase C. FICA D. Timeshare
    7·2 answers
  • Which of the following are properties of a savings account? Select all that apply.
    11·2 answers
  • Vincenzo Martin and Sasha Boudrakis have started a new firm, The Fan Base. Vincenzo is a well-known marketing guru who advises m
    8·1 answer
  • price index was 128 in year 1, and the inflation rate was 24 percent between year 1 and year 2. the price index in year 2 was a.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!