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
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

You might be interested in
دریافت رمز شماره کارت عابربانک وحساب بهاره تبری
frez [133]
SORRY BUT YOU CAN ANSWER THIS HERE YOU HAVE TO FIND A WEBSITE FOR YOUR LANGUAGE
5 0
3 years ago
Read 2 more answers
A company purchased 300 units for $60 each on January 31. It purchased 150 units for $25 each on February 28. It sold a total of
Daniel [21]

Answer:

Weighted-average inventory costing method Ending Inventory = $ 9666.67= $ 9667

Explanation:

Date           Particulars       Units   Unit Cost        Total Cost

January 31  Purchases          300             $ 60        $ 18,000

February 28   Purchases       150             $ 25          $3750

Total                                       450                               $ 21,750

Weighted-average inventory costing method=  Total Cost/ Total Units=

                                    $ 21,750/450= $48.33 purchase price per unit

Sales              250 units       at     $ 70    =      $ 17500

Ending Units =  Purchases-Sales = 450-250= 200

Weighted-average inventory costing method Ending Inventory = $ 9666.67

200 units at 448.33=  $ 9666.67= $ 9667

3 0
3 years ago
Read 2 more answers
Marshall Welding Company has two service departments (Cafeteria and Human Resources) and two production departments (Machining a
Serhud [2]

Answer:

the  cost of Human Resources would be allocated to Machining is $480,000

Explanation:

The computation of the cost of Human Resources would be allocated to Machining is given below:

= Cost of the human resource × machining department ÷ (machining department + assembly department)

= $1,200,000 × 100 ÷ (100 +  150)

= $480,000

hence, the  cost of Human Resources would be allocated to Machining is $480,000

5 0
3 years ago
Congress passed a law imposing penalties for displaying "indecent" material online where children could see it. If the U.S. Supr
ratelena [41]

Answer:

1) True

Explanation:

The checks and balances system allows every one of the government branches a say on new laws. First of all, Congress makes and passes laws. Second, the President can veto any law, and Congress needs two-thirds votes on both houses to overrun the presidential veto. Third, the Supreme Court decides if the law is constitutional or not, if it decides that the law is unconstitutional, it is eliminated completely or partially depending on the ruling.

6 0
3 years ago
Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journa
BaLLatris [955]

Answer:

Finer Company

Sales Journal:

May 7 Debit Accounts Receivable (J. Dryer) $1,527

Credit Sales Revenue $1,527

To record the sale of goods on terms 2/10, n/30, via invoice no. 5704.

May 12 Debit Accounts Receivable (R. Lamb) $421

Credit Sales Revenue $421

To record the sale of goods on terms n/30, via invoice no. 5705.

 

May 25 Debit Accounts Receivable (T. Taylor) $691

Credit Sales Revenue $691

To record the sale of goods on terms n/30, via invoice no. 5706.

Explanation:

a) Data and Analysis for Sales Journal:

May 7 Accounts Receivable (J. Dryer) $1,527 Sales Revenue $1,527 terms 2/10, n/30, invoice no. 5704.

May 12 Accounts Receivable (R. Lamb) $421 Sales Revenue $421 terms n/30, invoice no. 5705.

 

May 25 Accounts Receivable (T. Taylor) $691 Sales Revenue $691 terms n/30, invoice no. 5706.

8 0
3 years ago
Other questions:
  • Bowzer Co. has just received $2.7 million from the sale of one of its divisions. The company has 375,000 shares outstanding that
    6·1 answer
  • Suppose your elasticity of demand for your parking lot spaces is –2, and price is $8 per day. if your mc is zero, and your capac
    8·1 answer
  • You have a mortgage balance of $117,000 that will require you to make 120 more payments of $1,200 , starting next month. Alterna
    7·1 answer
  • Transactions The selected transactions below were completed by Cota Delivery Service during July: Indicate the effect of each tr
    7·1 answer
  • Which of the following journal entries is recorded correctly and in the basic format? a. Salaries and Wages Expense 550, Cash 1,
    10·1 answer
  • roarie brothers farm a seed company specializing in seed corn. at their weekly meeting they tried to calculate the portion of th
    5·2 answers
  • Exercise 7-16 (Algo) Estimating bad debts LO P3 At December 31, Folgeys Coffee Company reports the following results for its cal
    15·1 answer
  • A firm has 4,250 shares of stock outstanding with a market value of $16.65 a share, $64,800 of long-term debt with an interest r
    10·1 answer
  • Based on your understanding of the impact of macroeconomic factors, identify which of the following statements are true or false
    8·1 answer
  • State and explain the importance of marketing in small business ​
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!