Answer:
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Answer:
$190.50
Step-by-step explanation:
Expected value is the sum of each possible income multiplied by its probability.
There's a 5% chance that the vendor makes $200 and loses $190 (net gain of $10).
There's a 95% chance that the vendor makes $200 and loses $0 (net gain of $200).
So the expected value is:
Exp(RS) = $10 × 0.05 + $200 × 0.95
Exp(RS) = $190.50
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Answer:The number of minutes that Alexandra talked on her cell phone is 120
Step-by-step explanation:
A cell phone company charges a flat rate of 4.75 per month with an additional charge 0.19 per minute. Assuming the total number of minutes of call made for the month is represented by x and the total cost of x minutes of call is y, then
y = 0.19x + 4.75
To determine how many minutes that Alexandra talked on her cell phone if his monthly bill was 27.55, we would substitute y = 27.55 into the equation. It becomes
27.55 = 0.19x + 4.75
0.19x = 27.55 - 4.75 = 22.8
x = 22.8/0.19 = 120 minutes.