A permanent employee works in the same position for his or her entire career.

Lottery – Let $1,000 be your current wealth. There are 100 people and each buys a lottery ticket at $5. The administrative cost

MatroZZZ [7]

Answer:

Kindly check explanation

Explanation:

Given that :

Initial wealth = $1000

Cost of lottery = $5

Winning = $500

Number of players or tickets = 100

Only one winner can emerge :

P(winning) = 1/100

P(Not winning) = 1 - 1/100 = 99/100

P __ 1/100 _________ 99/100

X : [1000 + (500-5)] ___ (1000-5)

P(X): ____1/100 _______ 99/100

X : _____ 1495 _________995

Expected value E(x) :

E(X) = ΣX*p(x) = (1/100)*1495 + (99/100)*995 = 1000

C.)

Possible winning = $500 ; p(x) = 1/100

Possible loss = - 5 ;p(x) = 99/100

500 * (1/100) = 5

-5 * (99/100) = - 4.95

Σ(5 + - 4.95) = 5 - 4.95 = 0.05

Hence, gamble is favorable since 0.05 > 0

6 0

2 years ago

If a more efficient technology was discovered by a firm, there would be Multiple Choice a downward shift in the AFC curve. an up

Pavlova-9 [17]

Answer:

a) a downward shift in the AFC curve

Explanation:

AFC = Average Fixed Cost, AVC = Average Variable Cost, MC = Marginal Cost

Average Fixed Cost is defined as the fixed cost of production divided by the quantity produced. Mathematically given as:

Average Fixed Cost = Fixed Cost ÷ Quantity

AVC = FC ÷ Q

Average Variable Cost is defined as the variable cost of production divided by the quantity produced. Mathematically given as:

AFC = VC ÷ Q

Marginal Cost is defined as the cost incurred for an additional unit to be produced. Mathematically given as:

MC = ΔC ÷ ΔQ

The firm discovered a more efficient technology implies that the cost of production is reduced. The result of this is that the fixed cost (FC) is reduced and consequently, the AFC is reduced as well. Hence, the AFC curve shifts downward. We therefore see that a reduction in fixed costs (due to the discovery of a more efficient technology) results in the AFC curve shifting downwards

Hence, Option A (a downward shift in the AFC curve) is the correct answer

8 0

3 years ago

Percy gray, a professional nature photographer, is planning to buy a camera. recently, when he came across an ad in a magazine,

yuradex [85]

Percy Gray was focusing on the features of the camera. This would provide the intended output of a subject. Also, it would give versatility on taking pictures. Limited features cannot bring out better photo result. He learned that he would improve if himself gave that he has this kind of camera.

4 0

3 years ago

A regional automobile dealership sent out fliers to prospective customers indicating that they had already won one of three diff

Bas_tet [7]

Answer:

the requirements are missing, so I looked for a similar question.

a. How many fliers do you think the automobile dealership sent out?

b. Using your answer to (a) and the probabilities listed on the flier, what is the expected value of the prize won by a prospective customer receiving a flier?

c. Using your answer to (a) and the probabilities listed on the flier, what is the standard deviation of the value of the prize won by a prospective customer receiving a flier?

a) the total fliers sent out = 31,246 + 1 + 1 = 31,248

b) expected value = [(1 x $28,000) + (1 x $100) + (31,246 x $5)] / 31,248 = $5.90

c) σ² = [($28,000 - $5.90)² x 1] + [($100 - $5.90)² x 1] + [($5 - $5.90)² x 31,246] / 31,248 = ($783,669,634.80 + $8,854.81 + $25,309.26) / 31,248 = $25,080.13

σ = √$25,080.13 = $158.37

4 0

3 years ago

"A high-ranking officer of ABC Corporation owns 10,000 shares of ABC Corporation control stock that she wishes to sell under the

LuckyWell [14K]

Answer: $9,000

Explanation:

Rule 144 is a regulation that governs the trading of restricted, unregistered, and control securities and is enforceable by the SEC.

Under the rule, the person, as an officer of the ABC Corporation is limited to selling the higher of 1% of the Outstanding stock the company has or the average weekly trading volume over the preceding 4 weeks.

1% of the outstanding 900,000 shares is;

= 1% * 900,000

= 9,000 shares

This is higher than the average weekly trading volume over the preceding 4 weeks so this is the maximum permitted sales figure.

3 0

3 years ago