Prepare an accounting equation for the following business transaction
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Answer:
He expects that his bonus will be $210,000.
Step-by-step explanation:
For each plate appearence, there are only two possible outcomes. Either he gets on base(base hit or bases-on-balls), or he does not. The probability of getting on base on each plate appearence is independent of other plate appearences. So we use the binomial probability distribution to solve this question.
Binomial probability distribution
Probability of exactly x sucesses on n repeated trials, with p probability.
The expected value of the binomial distribution is:
600 plate appearances this year
So n = 600.
Expected number of hits
So
Expected number of base on balls.
So
Bonus
$1,000 for each hit and $100 for each base-on-balls he gets.
200*1,000 + 100*100 = 210,000
He expects that his bonus will be $210,000.