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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

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A resource-based strategy:
vazorg [7]

Answer:

b. uses a company's valuable and rare resources and competitive capabilities to deliver value to customers that rivals have difficulty matching.

Explanation:

Resources refers to competitive and valuable assets, organizational processes, capabilities, information, attributes, and knowledge that are acquired, owned and controlled by an organization. These resources are classified into two (2) main categories;

1. Tangible resources: these are physical assets such as equipments, financial assets, plants, raw materials, inventory etc that are owned and controlled by an organization.

2. Intangible resources: these are assets that are abstract in nature such as knowledge, customer loyalty, skills, experience, stakeholders, patent, culture, buyer recognition etc.

Hence, a resource-based strategy uses a company's valuable and rare resources and competitive capabilities to deliver value to customers that rivals have difficulty matching. This ultimately implies that, resource-based strategy avails a company the ability or opportunity to use their tangible and intangible assets to provide finished goods and services to meet the needs or wants of customers, as well as creating a competitive advantage over rivals in the same industry.

5 0
3 years ago
The internal financial statements of Vera Incorporated show that their beaded purses incurred an operating loss in the most rece
brilliants [131]

Answer:

Vera Incorporated

Change in annual operating income from discontinued business:

Annual Operating Income would reduce by $78,000.

Explanation:

a) Calculation of the Net Income Lost:

Loss of Contribution        ($99,000)

Avoidable fixed cost          $21,000

Reduction of Income       ($78,000)

b) The line of purses contributes $80,000 towards the company's fixed cost.  Therefore, discontinuing this line of business would lead to the loss of this steam of income.  The amount of reduced operating income will be $78,000 ($80,000 - 2,000).

4 0
3 years ago
Emma Jones Company has the following information​ available: Account ​12/31/2019 ​12/31/2018 Accounts Payable ​$76,500 ​$80,000
leonid [27]

Answer:

B. No.

Explanation:

The formula to compute the quick ratio is shown below:

Quick ratio = (Quick assets) ÷ (current liabilities)

where,

For 2018

Quick assets = Accounts​ Receivable, net  + Cash and Cash Equivalents + Short minus Term Investments

= $49,000 + $70,000 + $44,000

= $163,000

And, the current liabilities = Accounts Payable +  Income Taxes Payable

                                           =  ​$80,000 + 5,000

                                           = $85,000

Now put these values to the above formula  

So, the ratio would equal to

= $163,000 ÷ $90,000

= 1.81 times

For 2019

Quick assets = Accounts​ Receivable, net  + Cash and Cash Equivalents + Short minus Term Investments

= $42,300 + $43,700 + $27,000

= $113,000

And, the current liabilities = Accounts Payable +  Income Taxes Payable

                                           =  ​$76,500 + 2,000

                                           = $78,500

Now put these values to the above formula  

So, the ratio would equal to

= $113,000 ÷ $78,500

= 1.43 times

No, as it shows declining from 2018 to 2019

3 0
3 years ago
A firm negotiates a(n) _________ with its bank. This arrangement gives the firm access to a specified amount of unsecured short-
Vesna [10]

Answer:

<u>Line of credit </u>

Explanation:

A line of credit refers to a mechanism of availing short term credit from banks whereby a borrower is provided with a preset limit till which funds can be availed anytime.

As the borrower repays the money borrowed, the line of credit gets restored to the previous level provided it is an open line of credit.

Line of credit specifies the maximum limit till which money can be borrowed. The rate of interest and repayment time period are decided by the lender which is usually a bank.

Borrower is usually supposed to pay interest upon the money actually borrowed and not the full limit of the line of credit.

7 0
3 years ago
Etmer enterprises has budgeted sales for the next four months as follows: budgeted sales in units january 7,400 units february 4
Artyom0805 [142]

Units to be produced in February is calculated as -

Units to be produced in February = February sales + Ending inventory of February - Beginning inventory

February sales = 4,600 units

Ending inventory = 25 % * Sales of March = 25 % * 5,300 units = 1,325 units

Beginning inventory - 25 % * Sales of February = 25 % * 4,600 unit = 1,150 units

Units to be produced in February = 4,600 units + 1,325 units - 1,150 units

Units to be produced in February = 4,775 units

8 0
3 years ago
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