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3 years ago

Suppose scalpers buy 8,000 tickets and resell them for $100 each. How much profit do the scalpers earn?

Business

1 answer:

Paul [167]3 years ago

8 0

Answer: See Explanation

Explanation:

Your question isn't complete but let me help out. Let's assume that Scalpers bought the tickets for $90 each. To find profit, the formula to use is:

= Total revenue - Total cost

Total revenue will be:

= 8000 × $100

= $800,000

Total cost will be:

= 8000 × $90

= $720,000

Profit = Total Revenue - Total cost

= $800,000 - $720,000

= $80,000

Therefore, profit will be $80,000.

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Assume the probability of a pessimistic, most likely and optimistic state of nature is .25, .45 and .30, and the returns associa

Snowcat [4.5K]

Answer:

E) none of the above

12.70% and 2.49% standard deviation

Explanation:

We multiply probability by the outcome to get the weighted amount, we add them and get the expected return.

probability outcome weighted

0.25 0.10 0.0250

0.45 0.12 0.0540

0.30 0.16 0.0480

expected return 0.1270

Now that we got the expected return at 12.7%

We now subtract the possible outcome with the expected return and square them:

(0.127-0.1)^2

(0.127-0.12)^2

(0.127-0.16)^2

Then we add them and divide by the sample which is 3

0.000622

²√ 0.000622 = 0.024944383

<u><em>Final step,</em></u> will be the square root which gives the standard deviation

of 2.49% = 0.024947

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3 years ago

How do long term goals differ from short term goals

Lyrx [107]

Short term goals are anywhere from one week, to less then one year to complete. Long term goals are something that takes you a year or more to complete

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3 years ago

Read 2 more answers

A mining company owns two mines, each of which produces three grades (high, medium, and low) of ore. The company has a contract

sashaice [31]

Answer:

They should operate Mine 1 for 1 hour and Mine 2 for 3 hours to meet the contractual obligations and minimize cost.

Explanation:

The formulation of the linear programming is:

Objective function:

$C=200M_1+160M_2$

Restrictions:

- High-grade ore: $6M_1+2M_2\geq12$

- Medium-grade ore: $2M_1+2M_2\geq8$

- Low-grade ore: $4M_1+12M_2\geq24$

- No negative hours: $M_1,M_2\geq0$

We start graphing the restrictions in a M1-M2 plane.

In the figure attached, we have the feasible region, where all the restrictions are validated, and the four points of intersection of 2 restrictions.

In one of this four points lies the minimum cost.

Graphically, we can graph the cost function over this feasible region, with different cost levels. When the line cost intersects one of the four points with the lowest level of cost, this is the optimum combination.

(NOTE: it is best to start with a low guessing of the cost and going up until it reaches one point in the feasible region).

The solution is for the point (M1=1, M2=3), with a cost of C=$680.

The cost function graph is attached.

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4 years ago

Why doesn't school notes work

Katyanochek1 [597]

You just have to study them

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3 years ago

At UPS, a 12-step process prescribes how drivers should park their trucks, locate the package they are about to deliver, and ste

Alla [95]

Answer:

Programmed decision making

Explanation:

A programmed decision is one that is done by following already laid down rules and procedures. They are Carried out using formal patterns and the goals here are both clear and specific. These rules and routines in UPS are are a good example of how programmed decisions are done. As it can be seen on every aspect of their day to day business activities.

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3 years ago