You must look first for the probability of the 4 prizes
which are $500, $100, $25, and no prize.
P ($500 prize) = 1/100 or 0.01
P ($100 prize) = 2/100 or 0.02
P ($25 prize) = 4/100 or 0.04
P (No prize) = 100/100 – 1+2+4/100 =93/100 .93
Expected gain or loss is computed by: (P(x)* n)
E= (500-10)*.01 + (100-10)*0.02 + (25-10)* 0.04 + (-10)*.93
= 4.90 + 1.80 + 0.6 – 9.3
E = -2
There is a loss of $2.
Answer: Optimization of resource allocation
Explanation: Macroeconomics, in simple words, refers to the study of economy as whole. It focuses on factors, the impact of which is high on economy such as interest rates and national productivity.
One of many concerns that macroeconomics deals with is optimization of resource allocation, which means using resources in that sector which gives the best results and maximum profit to the economy.
Answer:
c. Debit Notes Payable $9,000; debit Interest Expense $240; credit Cash $9,240.
Explanation:
Interest Expense = $9,000 x 0.08 x 120 / 360 = $240
Explanation:
pause and take a deep breath