Explanation and answer:
If if the possible outcomes are xi, and the corresponding probability is pi, where i is one of the N events, then the expectation [E] is given by
[E] = sum (xi*pi)
In the given case, n= frequency of the event, N=50=total number of events
i n xi pi n*xi*pi
1 40 0 40/50 40*0*40/50 = 0
2 8 20 8/50 8*20/50 = 3.20
3 1 100 1/50 1*100/50 = 2.00
4 1 500 1/50 1*500/40= 10.00
Total (expected gross winning) = 15.20
Person has already paid $10,
so the expected net winning = 15.20 - 10 = 5.20
Answer:
$5,000= ending inventory
Explanation:
Giving the following information:
Gross margin is normally 40% of sales.
Sales= $25,000
beginning inventory= $2,500
purchases= $17,500
First, we need to determine the cost of goods sold:
COGS= 25,000*0.6= 15,000
Now, using the following formula, we can calculate the ending inventory:
COGS= beginning inventory + cost of goods purchased - ending inventory
15,000= 2,500 + 17,500 - ending inventory
5,000= ending inventory
Answer:
<u>Retail Strategy</u>
Explanation:
A retail strategy refers to a future course of action, adopted by a retailer, with respect to the kind of goods and services that would be provided, the pricing strategy i.e deciding upon the price to be charged, the ways to withstand and overcome competition and to keep customers satisfied and maximize profits at the same time.
This activity would also take into consideration, how the products would be displayed and promotion.
In the given case, The salon owner while developing strategy, decided upon gaining a competitive edge over the other salon operators by providing similar services at a reduced price, with employment of well trained staff, and offering heavy discounts on specific services on Wednesdays.
This represents development of a retail strategy.
Answer:
regressive
Explanation:
A regressive tax is basically a tax whose rate increases as your income decreases. Generally you do not need to increase the marginal tax rate of lower income levels, all you need to do is have a flat tax that taxes everyone with the same amount. E.g. everyone pays $2,000 as income taxes. $2,000 per person represents 10% of the first household's income, but it only represents 2.7% of the fourth household's income.
On the other hand, progressive taxes increase as the income level of the taxpayers increases.
Answer:
b. increase expenses by $12,900
Explanation:
The final balance of Store Supplies were 19,350, but the actual year-end store supplies inventory were 6,450. That means that from all purchase 12,900 (19,350 – 6450) were used during the accountable year, therefore, those were expenses that should be recognized.
The adjusting entry is: Debit supplies expense for 12,900 and credit supplies for an equal amount.
