answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
maria [59]
2 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]2 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

You might be interested in
Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $12, direct lab
o-na [289]

Answer:

$75.40

Explanation:

Mark up is a percentage applied on the cost to get the selling price. In other  word, the difference between the marked-up amount and the total cost gives the profit of the entity.

To get the target selling price, we would first determine the total cost, then apply the mark up percentage on the cost and add the result to the cost.

Total cost per unit

= $12 + $4 + $9 + $10 + $5 + $12

= $52

Amount of mark up

= 45% * $52

= $23.40

Target selling price = $52 + $23.40

= $75.40

4 0
2 years ago
Now, assume that Addison’s savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on
love history [14]

Answer:

Addison will have $ 1,661 in her account in nine years.

Explanation:

This problem requires us to calculate value of our investment of $ 1000 dollars after nine years. The interest on the investment is 5.8% compounded annually.

This problem can be solved by using simple compounding formula given below.

Future Value = Present Value (1+interest rate%)^-period

Future Value = 1,000 (1+5.8)^9

Future = $ 1,661

5 0
2 years ago
If the selling price per unit is​ $66, variable expenses per unit are​ $41, target operating income is​ $31,000, and total fixed
Murrr4er [49]

oi oi siempre todos

Explanation:

mmm... los dias es ooh oop

4 0
2 years ago
Campbell's soup company continues to add new food products to its product line under the campbell's brand name. this is known as
almond37 [142]
This is known as family branding. Family branding or also known as umbrella branding is a marketing strategy that uses a single brand name in marketing the products. The family branding develops familiarity in the market due to its name and logo. This helps their new product lines to get distinguished in the market. 

7 0
2 years ago
How has globalization made countries more interdependent? Choose five answers.
tino4ka555 [31]

Answer:

C

Explanation:

Countries rely on each other for cheaper products

5 0
2 years ago
Other questions:
  • When configuring a group of radio button form controls, the value of the ________ attribute on each radio button must be the sam
    6·1 answer
  • Julie boss Sandra wants to have a word with her. She finds that Julie has stepped out for lunch , so she leaves Julie a _____ on
    7·2 answers
  • Which questions can help someone who is starting to think about personal vision and goals? Select all that apply. What activitie
    10·2 answers
  • Chevron Corporation is one of the largest integrated oil companies in the world. Its management is assessing the world marketpla
    12·1 answer
  • When Mayo Clinic conducted its analysis during the 1980s, what two segments of the general environment did it initially focus on
    10·1 answer
  • Wu Production Company, which uses activity-based budgeting, is in the process of preparing a manufacturing overhead budget. Whic
    6·1 answer
  • Depreciation Methods On January 2, 2018, Skyler, Inc. purchased a laser cutting machine to be used in the fabrication of a part
    10·2 answers
  • AMC Corporation currently has an enterprise value (EV) of $400 million and $100 million in excess cash. The firm has 10 million
    14·1 answer
  • Review the Inquirer to determine Chester’s current strategy. Where will they seek a competitive advantage? From the following li
    7·1 answer
  • iSooky has a spotter truck with a book value of $52,000 and a remaining useful life of 5 years. At the end of the five years the
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!