1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
maria [59]
3 years ago
15

Suppose you pay $50 to enter into a raffle with $1,000 prize. If you have a 3% chance of winning comma the expected value of you

r ticket is________.
Business
1 answer:
ikadub [295]3 years ago
3 0

Answer:

$-20

Explanation:

Calculation to determine the expected value of your ticket

Using this formula

Expected Value =∑ payoff *Probability

Let plug in the formula

Expected value of ticket =950 ∗.03+(−50) ∗(100%-3%)

Expected value of ticket =950 ∗.03+(−50) ∗.97

Expected value of ticket=−20.

Therefore the expected value of your ticket is $-20

You might be interested in
What is a panel discussion
kenny6666 [7]
A panel discussion is a form of conference. It typically has differing members participating and is in front of an audience. Hopefully this helps!
8 0
3 years ago
Suppose Jim worked 62 hours during this payroll period and is paid $14.00 per hour. Assume FICA is 6.2%, Medicare is 1.45% and w
lara31 [8.8K]

Answer:

1. $714.798

2. $66.402

3. $141.484

Explanation:

1. Gross pay = 62 hours worked x $14.00 per hour

= $868

Net paycheck = Gross pay - Tax

= 868 - [(868) x (6.2%+1.45%+10%)

= $868 - $153.202

= $714.798

2. Employer's payroll tax expense = (6.2%+1.45%) x 868

= $66.402

3. Jim's employer's total payroll tax liability for the period.

868*6.2% (FICA taxes - Employee) + 868*6.2% (FICA taxes - Employer's share) + 868*1.45% (Medicare taxes - Employee) + 868*1.45% (Medicare taxes - Employer's share) + 868*10% (Withholding tax).

= 53.816 + 53.816 + 12.586 + 12.586 + 8.68

Total = $141.484

5 0
3 years ago
A hurricane hits the coast of the United States, destroying oyster farms. Afterward,
Free_Kalibri [48]
Answer: C. Scarcity

The situation is an example of scarcity.
5 0
2 years ago
Read 2 more answers
Golf Guide sells imprinted clothing and accessories for golfers through a catalog. To find new customers, Golf Guide sends a sma
kherson [118]

Answer:

Cost per customer acquired = $51.67

Explanation:

Customer acquired per thousand pieces mailed = 1000*6% = 60

Total cost per thousand pieces mailed A    $3,100

Divide by Customers acquired  B                <u>   60     </u>

Cost per customer acquired A/B                <u>  $51.67</u>

7 0
3 years ago
If small samples can reveal something that large samples might not, why not just take small samples in every situation?
swat32
T<span>aking small samples in every situation is not always appropriate. If the populations </span>are<span> very large, you </span>cannot<span> just take small samples because it will not represent the entire population. Small samples </span>are<span> usually for verifications purposes that is the reason why it can detect some errors that the larger samples </span>cannot<span>.</span>
8 0
3 years ago
Other questions:
  • Shahia Company bought a building for $73,000 cash and the land on which it was located for $107,000 cash. The company paid trans
    8·1 answer
  • Firm A manufactures brake pads, a component of a braking system, and sells them to Firm B, who sells braking systems used in veh
    14·1 answer
  • Joel is more apt to have employees buy in to his proposed new attendance policy if he asks for employee ________.
    8·1 answer
  • Revenue is traditionally recognized in the accounting records when
    7·1 answer
  • Suppose that electricity producers create a negative externality equal to $5 per unit. Further suppose that the government impos
    12·2 answers
  • acques manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday
    8·1 answer
  • Hidden Valley Communications, Inc., located in a remote area of Utah, made a special device that was used in LTE phones. After t
    9·1 answer
  • Which of the following is true of currently attainable standards? a.Currently attainable standards can be achieved under efficie
    11·1 answer
  • Gaggle Inc. decides to wrongly infringe on Chirp Chirp's patent and establish a similar "knock-off" product because Chirp Chirp
    5·1 answer
  • Select all that apply Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a subsidiary led
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!