Answer:
A.) - 2.6
B.) 0.4
Explanation:
Ticket price = $3
Winning price = $200
Probability of winning(Pwin) = (1/500)
Probability of not winning (Ploss) = [ 1 - (1/500)] = 499/500
Net income if Raul wins (Nwin) = $200 - $3 = $197(no refund)
Net loss if Raul does not win(Nloss) = - $3
A.) Expected value is calculated by;
(Pwin × Nwin) + (Ploss × Nloss)
((1/500) × 197) + ((499/500) × - 3)
0.394 - 2.994 = - 2.6
B.) Fair Value is calculated by;
Cost of ticket + Expected value
3 - 2.6 = 0.4
Answer:
Short term memory or working memory
Explanation:
Woekin memory or short term memory refers to a limited-capacity store that not only retains information over the short term (maintenance), but also permits the performance of mental operations with the contents of this store (manipulation)
The 24 statements is that your list and brief statement explains the five activities for what a purchasing department normally has for responsibility.
Answer:
$500,000
Explanation:
in order to calculate the value you should determine the expected return or sales price of the land = price of land x probability of sale
In this case, you have two offers and apparently you haven't decided which to choose, so the expected return = ($400,000 x 50%) + ($600,000 x 50%) = $200,000 + $300,000 = $500,000
Answer:
The correct answer is option A.
Explanation:
Menu costs can be defined as the cost which is incurred by the firms because of changing prices. The size of the menu costs depends upon the type of firm.
There are some costs involved in printing menus, price lists, brochures, catalogs, and price tags, etc.
The concept of menu costs was given by Eytan Sheshinski and Yoram Weiss in 1977. It is used to explain price stickiness in a market.
In case the current price differs from the equilibrium price, the firms will change their price only if the additional revenue from a price change is able to cover menu costs incurred due to price change
