It will rain with probability 0.8. if it does, you earn $200 and if not, you earn $400. the expected value is: $200.
This is true because the probability of raining is 0.8%, which is 0.2% away from becoming 1.0%, which is 100%. Since you earn $200 if it rains and the probability of rain is the majority, the expected value is $200.
A partnership is a type of business structure where two or more individuals agree to own and operate a business together.
A partnership can be defined as a formal arrangement between two or more parties. This formal arrangement is created to manage and operate a business and share its profits. There are several arrangements that can be made between the partners in order to share the profits and losses of the firm.
The other division of partnership can be on the basis of participation in the work of the firm. There may be some partners that only provide their name to the business firm called silent partners. So they will not be involved in the day-to-day operation of the business. Whenever there is an admission or removal or retirement of a partner the partnership needs to be dissolved.
Learn more about the partnership here:
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I believe is :to provide information and assistance to people
