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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

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What would the new equilibrium price of tutoring services be if carlos decided to stop tutoring?
wariber [46]
Given the table below

\begin{tabular}
{|p {1cm}|p {1.4cm}|p {1.4cm}|p {1.5cm}|p {1.4cm}|p {1.4cm}|}
{Price per hour&Quantity Supplied by Ann&Quantity Supplied by Bob&Quantity Supplied by Carlos&Market Quantity Supplied&Market Quantity Demanded\\[1ex]
\$50&94&35&19&148&5\\
45&93&33&14&140&8\\
40&90&30&10&130&11\\
35&81&27&6&114&16\\
30&68&20&2&90&22\\
25&50&12&0&62&30\\
20&32&7&0&39&39\\
15&20&0&0&20&47\\
10&10&0&0&10&57
\end{tabular}

From the table it can be seen that at the price of $20, the quantity supplied is equal to the quantity demanded equal to 39.

Also notice that at that price, Carlos is not supplying any service.

Therefore, the equilibruim price <span>of tutoring services be if Carlos decided to stop tutoring is $20.</span>
4 0
2 years ago
Rhed Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day
REY [17]

Facility expenses in the flexible budget comes out to be $24,260.

<h3>What is flexible budged?</h3>

A flexible budget is one that is based on various sales volumes. For each projected level of production, the static budget is adjusted by a flexible budget. Due to this flexibility, management is able to predict how the budgeted figures will change as sales volume changes.

Calculation for the facility expenses in the flexible budget for December:

The table of the data used in budgeting: Fixed Element per Month Variable element per tenant-day Revenue is in attachment-

Facility expenses in the flexible budget = Variable + Fixed

                                                                  = (3650*4.40) + 8200

                                                                  = 16,060 + 8200

                                                                   = 24,260

The wages and salaries in the planning budget for December would be closest to $24,260.

To know more about the flexible budget, here

brainly.com/question/25353134

#SPJ4

6 0
1 year ago
A system of economic organization in which the ownership and control of productive capital assets rests with the state and in wh
liq [111]
Your answer is a command economy. Good Luck.
3 0
3 years ago
Kayla gathers her staff together at the end of the year and tells the group what goals she has chosen to set for the coming year
ipn [44]

An authoritarian leadership is displayed by Kayla because of his firm decision to gathers her staff and tells them what goals she has chosen to set for the coming year.

<h3>What is an authoritarian leadership?</h3>

An authoritarian leadership is a leadership style used by a leader who exercises full individual control over all decisions and little input from group member.

In conclusion, the authoritarian leadership is displayed by Kayla because of his firm decision to gathers her staff and tells them what goals she has chosen to set for the coming year.

Read more about authoritarian leadership

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3 0
2 years ago
A(n) ________ is a formal listing of the policies, liability limits, fees and user rights and responsibilities associated with u
nalin [4]

Answer:

d. Terms of Service Agreement.

Explanation:

A Terms of service (TOS) agreement is a formal listing of the policies, liability limits, fees and user rights and responsibilities associated with using a particular SNS. This service includes internet, telephone, data etc.

4 0
3 years ago
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