A commodity is a raw material or primary agricultural product that can be bought and sold, such as copper or coffee. It is a useful or valuable thing.
Answer:
$1,500
Explanation:
Given that,
A man wishes to purchase a life insurance policy that will pay the beneficiary $25,000 if the man's death occurs in the next year.
The probability that the company pays nothing is 0.94 and there is 0.06 probability that the company pays $25,000.
So, on an average expected loss is as follows:
= 0.94 × $0 + 0.06 × $25,000
= $1,500
Hence, the minimum amount that he can expect to pay for his premium is $1,500.
Answer:
$1,548,000
Explanation:
The computation of the total budgeted direct labor cost is shown below:
= Number of units to be produced × number of hours per unit × labor cost per hour
= 34,400 units × 3 hours × $15
= $1,548,000
We simply multiplied the number of units to be produced with the number of hours per unit and the labor cost per hour so that the accurate amount can come
False, Banks aren't required to have ATMs at all.