Answer:
$218.70
Step-by-step explanation:
You need to first convert the percentage to the decimal.
20% = 0.2
Now, you need to find 20% of each bill by multiplying each bill by 0.2.
0.2(185.45) + 0.2(205.20) + 0.2(195.05) + 0.2(245.80) + 0.2(262.00)
Because of the distributive property, you can add up the bills and multiply the sum by 0.2.
0.2(185.45 + 205.20 + 195.05 + 245.80 + 262.00)
0.2(1093.50)
218.7
The waiter made $218.70 in tips.
Answer:
55°
Step-by-step explanation:
if the middle is straight, then x+35°=90°
Answer:
Mean: 14
Median: 15
Mode: All values appear just once
Range: 7
The answer to the equation is the second option.
Note that
Answer:
Mary's risk premium is $0.9375
Step-by-step explanation:
Mary's utility function,
Mary's initial wealth = $100
The gamble has a 50% probability of raising her wealth to $115 and a 50% probability of lowering it to $77
Expected wealth of Mary,
= (0.5 * $115) + (0.5 * $77)
= 57.5 + 38.5
= $96
The expected value of Mary's wealth is $96
Calculate the expected utility (EU) of Mary:-
The expected utility of Mary is $9.75
Mary will be willing to pay an amount P as risk premium to avoid taking the risk, where
U(EW - P) is equal to Mary's expected utility from the risky gamble.
U(EW - P) = EU
U(94 - P) = 9.63
Square root (94 - P) = 9.63
If Mary's risk premium is P, the expected utility will be given by the formula:
Mary's risk premium is $0.9375