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Dima020 [189]
3 years ago
9

7. Liqin fixes up old cars and sells them to supplement his retirement income. Liqin came across a beat-up 1955 Corvette that sh

e is considering rebuilding and selling. She estimates a 0.2 probability that she will gain 15% on the deal, a 0.2 probability that she will gain 10%, and a 0.6 probability that she will gain 5%. Liqin's expected return for fixing up and selling the Corvette is ____%. a. 8 b. 11 c. 20 d. 30
Business
1 answer:
ruslelena [56]3 years ago
7 0

Answer:

a. 8%

Explanation:

Expected Return = [(Return*Probability)+(Return*Probability)+(Return*Probability) * 100%]

Expected Return = [{(15%*0.2)+(10%*0.2)+(5%*0.6)} * 100]%

Expected Return = [{(0.15*0.2)+(0.1*0.2)+(0.05*0.6)} * 100]%

Expected Return = [{0.03+0.02+0.03} * 100]%

Expected Return = [{0.08 * 100}]%

Expected Return = 8%

So, Liqin's expected return for fixing up and selling the Corvette is 8%.

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Which of the following statements is true of simulated market testing?
mario62 [17]

Answer:

The correct answer is letter "B": It is used to monitor shopper behavior to assess a product's performance.

Explanation:

Simulated Test Marketing or STM is a simulation of a real market place to evaluate consumers' reactions to a product that is going to be introduced or that is already in the market but some sort of assessment is necessary to boost its sales. STM is useful to estimate demand and conduct a market analysis.

3 0
3 years ago
Please answer the question posted in the image
GarryVolchara [31]

Answer:

its c

Explanation:

8 0
2 years ago
What is the best way to answer the question "tell me a little about yourself
Nata [24]

Answer:

Tell them what you stand for and what you have done. Tell them what you want to do.

Explanation:

7 0
3 years ago
Read 2 more answers
At the beginning of the month, the Forming Department of Martin Manufacturing had 11,000 units in inventory, 40% complete as to
emmainna [20.7K]

Answer:

  • Materials ⇒ 70,725 units
  • Conversion ⇒ 68,600 units

Explanation:

Using the weighted average method, the equivalent units are the Units transferred out plus the equivalent closing inventory.

Materials:

= Units transferred out + Closing equivalent units

= 63,500 + (85% * 8,500)

= 70,725 units

Conversion:

= 63,500 + (60% * 8,500)

= 68,600 units

3 0
3 years ago
Blossom Company has the following transactions related to notes receivable during the last 2 months of 2019. The company does no
Sunny_sXe [5.5K]

Answer:

Nov 1    Notes Receivable-C Bohr      66000 Dr

                        Cash                                66000 Cr

Dec 11   Notes Receivable-KR Pine      5400 Dr

                        Sales Revenue                 5400 Cr

Dec 16  Notes Receivable-A Murdock 7200 Dr

                        Accounts Receivable       7200 Cr

Dec 31  Interest receivable                   598 Dr

                        Interest Revenue                598 Cr

Explanation:

We need to calculate the interest accrued on all the notes. We will then add the interests on these notes and credit interest revenue by that amount and debit interest receivable.

<u />

<u>Interest revenue on Note 1</u>

Interest Revenue = 66000 * 0.05 * 2/12 = $550

<u />

<u>Interest revenue on Note 2</u>

Number of days interest is accrued for is 20 days (31-11=20)

Assuming a 360 day year.

Interest revenue = 5400 * 0.07 * 20/360 = $21

<u />

<u>Interest revenue on Note 3</u>

No of days interest is accrued for is 15 (31-16 = 15)

Assuming a 360 day year.

Interest revenue = 7200 * 0.09 * 15/360 = $27

Total Interest revenue = 550 + 21 + 27 = $598

5 0
3 years ago
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