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34kurt
3 years ago
7

If you draw a card with a value of three or less from a standard deck of cards, I will pay you $146. If not, you pay me $24. (Ac

es are considered the highest card in the deck.)Step 1 of 2 :Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.
Business
1 answer:
Rainbow [258]3 years ago
7 0

Answer: Expected value = $2.034

Explanation:

Total outcome = 52

Favorable Outcome = 8

Probability of drawing a card with a value of three or less = \frac{Favorable\ outcome}{Total\ outcome}

= \frac{8}{52}

=  \frac{2}{13}

Probability of drawing a card with a value of more than three = 1 -  \frac{2}{13}

=  \frac{11}{13}

Hence,

Expected value = 146 \times \frac{2}{13} + (-24) \times \frac{11}{13}

= 22.338 - 20.304

= $2.034

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I believe the answer is: c. interest rate

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In this process, interest rate is the profit that the organization would take for their service. As the interest rate become lower, the amount of mortgage price would typically increased, and vice versa.

4 0
3 years ago
The current value of a property is $255,000, and it is assessed at 35% of its current market value. What is the amount of the re
IrinaVladis [17]

Answer:

$3,123.75

Explanation:

First we have to calculate the assessed value of the property for the purpose of taxation, which is given as follows:

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8 0
3 years ago
Held-to-Maturity Bond Investment On January 1, 2016, Weaver Company purchased as held-to-maturity debt securities $500,000 face
yulyashka [42]

Answer:

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8 0
3 years ago
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4 years ago
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7 0
4 years ago
Read 2 more answers
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