Little Lottery: A lottery ticket costs 1 dollar. If you win, you
are paid 101 dollars by the lotto commission. The probability of
winning is 1.0%. What the expected value (round to nearest
cent)?
Supp

Answers

Answer 1

The expected value of the little lottery is 0.99 dollar (rounding off to nearest cent).

Given,Probability of winning = 1.0% or 0.01

The cost of the ticket = $1The prize money for winning = $101

Expected Value is defined as the sum of the products of each possible outcome and their respective probability of occurrence in a given event.

Expected Value = (Probability of Winning x Amount Won) + (Probability of Losing x Amount Lost)

Now, using the above formula,Expected Value = (0.01 x $101) + (0.99 x $0)

= $1.01 x 0.01 + $0.99 x 0

= $1.01 x 0.01

= $0.0101, rounded to the nearest cent, gives $0.99.

Hence, the expected value  is 0.99 dollar.

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Related Questions

Which enterprise would be most likely to attract a venture capitalist.

Answers

A technology-based startup with a scalable business model, strong growth potential, and a capable management team would be most likely to attract a venture capitalist.

Some industries that may be particularly attractive to VCs include technology, biotech, and renewable energy. In the technology sector, VCs may be interested in companies that are developing cutting-edge software, hardware, or AI technology. In biotech, VCs may be drawn to companies that are working on new drugs or medical devices that have the potential to improve patient outcomes. And in renewable energy, VCs may be interested in companies that are developing new technologies to reduce carbon emissions and promote sustainability.

Ultimately, the enterprise that is most likely to attract a venture capitalist is one that has a compelling business model, a strong management team, and a product or service that has the potential to disrupt the market and generate significant profits. However, it's important to note that VCs are looking for high-risk, high-reward opportunities, so not every enterprise will be a good fit for venture capital funding.

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Which equation can be ued to find the area of the of the parallelogram?A = (7)(5)A = (15)(5)A = 10/5 ÷ 7)A = (151/7)

Answers

The equation which can be used to find the area is A= (15)(5) = 75.

A parallelogram is a quadrilateral with two pairs of opposite sides which are parallel. It also should have two equal opposite angles and two intersecting and non-equal diagonals.

The area of a parallelogram is the total region occupied by a parallelogram in a 2-dimensional space.

Area of a parallelogram = base(b) × height(h)

Also, Base = 3 × height

Hence, according to the given equations,

Let the height be 5

Base = 5 × 3 = 15

Therefore area of the parallelogram = (15)(5) = 75

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Current liabilities include ______. Multiple select question. accounts payable wages payable interest receivable 5 year bonds due in 2 years 10 years bonds due in 5 months

Answers

Current liabilities include current liabilities and 10 years bonds due in 5 months.

What are current liabilities?

Current liabilities are obligations that a company owes other entities. This obligations would be paid withing a year.

Current liabilities include:

Accounts payable short term loans Interest payableBank overdraft

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if x times y equals 5023.21 then what does xy times

if x times y equals 5023.21 then what does xy times

Answers

Answe  

um......math

Explanation:

hellooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

Trinity Ltd. wants to obtain debt financing to fund its expansion. What are the different sources from which it can raise this fund?
A. common stock and commercial banks
B. common stock and insurance companies
C. stock brokerage firms and insurance companies
D. preferred stock and stock brokerage firms

Answers

C is the right answer thank youuuu

Answer:

The correct answer is C.) Stock Brokerage Firms and Insurance Companies

Explanation:

Hope this helps :)

A tissue composed of thin-walled cells with interconnecting air spaces between them is called Group of answer choices collenchyma. Secretory tissue. Sclerenchyma. Chlorenchyma. Aerenchyma

Answers

A tissue composed of thin-walled cells with interconnecting air spaces between them is called **aerenchyma**.

Aerenchyma is a specialized plant tissue that facilitates the transport of gases, particularly oxygen, within plants. The intercellular air spaces in aerenchyma tissue allow for efficient gas exchange and can be found in various plant organs such as roots, stems, and leaves. This tissue adaptation is particularly important for plants growing in aquatic or waterlogged environments, where oxygen availability may be limited. Aerenchyma tissue helps plants adapt to such conditions by providing a pathway for oxygen to reach submerged or waterlogged tissues, promoting overall plant respiration and survival.

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how can interest rate on loan for rental property determine the rent

Answers

The interest rate on a loan for a rental property can have an impact on the amount of rent a landlord charges. If the interest rate is high, the landlord may need to charge more rent to cover the cost of the loan. If the interest rate is low, the landlord may be able to charge less rent.

Four students are at an extracurricular activity fair at their high school and are trying to decide which clubs to join. Some information about the students is listed in this chart:

Answers

Answer:

Hello your question is incomplete below is the missing part of your question

A 2-column table with 4 rows. Column 1 is labeled Student with entries Eleanor, Russel, Giada, Joe. Column 2 is labeled Hobbies with entries is already in B P A but is looking for a similar club to join as well; enjoys being treasurer for school band and drama club, and wants to join a club to help him learn more about these skills; builds remote-control cars and robots as a hobby; wants to be a stay-at-home dad and be involved in the homeowners association for his future.

Which describes which CTSO each student should join?

Answer :   option A).

Explanation:

It is necessary that each student should join a CTSO based on his/her interests which means that Eleanor should join NYFEA (National Young Farmer Educational Association) , Russell should join FEA(Future Educators Association) , Giada should join TSA(Transportation Security Administration) while Joe should join HOSA(Health Occupations Students of America) secondly this various CTSO's will help the students develop better in their various areas of study and skills.

An annual report promotes an open
line of ____
for all those
invested in a company.
A. capital
B. liability
C. communication

Answers

Answer:

I woulod say c

Explanation:

it makes the most sense

the amount of partial worthlessness on a nonbusiness bad debt is only deducted upon final settlement of the debt.

Answers

The amount of partial worthlessness on a nonbusiness bad debt is only deducted upon final settlement of the debt is true statement.

A sum of money that a creditor must write off as a result of a debtor's default is referred to as a bad debt. A charge-off is recorded when a creditor has a bad debt on their books that becomes uncollectible. Since there is always a possibility that payment will not be collected, bad debt is a contingency that all businesses that provide credit to customers must account for. These substances can gauge the amount of their receivables might become uncollectible by utilizing either the records receivable (AR) maturing strategy or the level of deals technique.

There are two ways that businesses must account for expenses related to bad debt. The first is the direct write-off method, in which accounts are written off when they are discovered to be uncollectible. Even though this method records the exact amount for accounts that have been determined to be uncollectible, it does not follow GAAP or the matching principle that is used in accrual accounting.

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Complete question:

The amount of partial worthlessness on a nonbusiness bad debt is only deducted upon final settlement of the debt. True or False.

from combining the 7 facts what opportunities and threats can
you identify( Apple Co)?
Case study chapter 3 A. from combining the 7 facts what opportunities and threats can you identify Apple Co)? 1. 2015 Tax increases 2. High demand of iPhone 13 3. Price pressure from Samsung over key

Answers

Some of the opportunities and threats that Apple Co. can be identified to have include:

Expanding into new markets - Opportunities Developing new products and services - Opportunities Increased competition - Threats Changing consumer preferences - Threats

What are some opportunities and threats to Apple ?

Apple could expand into new markets, such as India and China, where there is a large and growing population of potential customers. Apple could continue to develop new products and services, such as the Apple Watch and AirPods, to meet the needs of its customers.

Apple faces increased competition from other companies, such as Samsung and G-o-ogle, in the smartphone and tablet markets. Consumer preferences are constantly changing, and Apple needs to be able to adapt its products and services to meet those changes.

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Does anyone have a perfect competition business example?

Answers

Answer:

Perfect competition is a type of market structure where products are homogenous and there are many buyers and sellers. ... Whilst perfect competition does not precisely exist, examples include the likes of agriculture, foreign exchange, and online shopping.

Explanation:

Your credit card has a credit limit of $1,000. Your credit card company reviews your credit line every 6 months.

Answers

The time it will take to increase the limit to $1,600 is 2.5 years, when the credit card has a credit limit of $1,000.

What is a credit card?

A credit card is a payment card issued to users or cardholders to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt that is promised to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer usually a bank or credit union creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.

A credit card is different from a debit card.

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Your question was incomplete, your full question probably was:

Your credit card has a credit limit of $1,000. Your credit card company reviews your credit line every 6 months. They will not increase your credit line more than 10% each 6-month period. Assuming they increase your limit each 6-month period by 10%, how long will it take to increase your limit to $1,600?

what is the index that tracks the top 500 u.s. stocks?

Answers

Answer: The S&P 500 Index

Explanation:

Ivan has inherited his grandmother’s 1963 Chevrolet Corvette (trust me this is a hot car to own – if you watched Lucifer on TV you know it), which he values at $45,000. He decides that he might be willing to sell it so he posts it on Craigslist for $55,000. Samantha is interested and willing to pay up to $72,000. Would Ivan and Samantha want to voluntarily engage in trade? How much economic surplus is created for both of them as a result of this exchange? Show your calculations. What is the total economic surplus? Explain how you arrived at this number.

Answers

This total economic surplus is arrived at by subtracting the value that Ivan put on the car before the trade, $45,000, from the highest value that Samantha is willing to pay for the car, $72,000.

Ivan and Samantha would want to voluntarily engage in trade because there is a gap between what Ivan is willing to accept for the car ($55,000) and what Samantha is willing to pay for it ($72,000).

The economic surplus created for Ivan as a result of this exchange is $72,000 (the amount Samantha is willing to pay) minus $45,000 (the value Ivan placed on the car before the exchange) = $27,000.

The economic surplus created for Samantha is $72,000 (the amount she is willing to pay) minus $55,000 (the amount Ivan is asking for the car) = $17,000.

The total economic surplus created as a result of this exchange is the sum of the individual surpluses: $27,000 (for Ivan) + $17,000 (for Samantha) = $44,000.

This difference of $27,000 is the economic surplus for Ivan, and the difference between the amount Samantha is willing to pay, $72,000, and the amount Ivan is asking for, $55,000, is the economic surplus for Samantha. The total economic surplus is the sum of the two individual surpluses.

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What is value?
A. The revenue a company receives in one year
B. The profit a company produces in one year
C. The amount that a product or service is worth
D. The scarcity of a product

Answers

Answer:

c. the amount that a product or service is worth

On March 5 PV Inc purchased $3,300 worth of merchandise from Panther Supply with the terms 2/10,n/30 On March 14, PV Inc paid Panther Supply the amount owed less the discount. Show the journal entry for March 5 and March 14 a

Answers

I need help on my question

the following transactions occurred for lantana company during its first month of operations and have been recorded in the t-accounts below. a. received $50,000 cash from owners in exchange for common stock. b. purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. c. bought $900 of supplies on account. d. purchased $10,000 of equipment, paying cash. e. paid $500 on account for supplies purchased in transaction (c).

Answers

a. Common stock account b. Notes Payable account c. Supplies account d. Equipment account e. Accounts Payable account

These transactions reflect the various ways that a new business can acquire assets (such as cash, land, supplies, and equipment) and liabilities (such as notes payable and accounts payable) as it begins its operations.

Based on the information, here is a breakdown of the transactions that occurred for Lantana Company during its first month of operations:

a. Received $50,000 cash from owners in exchange for common stock. This is a typical initial transaction for a new business, as owners contribute capital in exchange for ownership (represented by shares of stock). This transaction would increase the Cash account and increase the Common Stock account.

b. Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. This transaction involves both a cash payment and a note payable (a liability). The land purchase would be recorded as a debit to the Land account and a credit to the Cash account (for the amount paid in cash). The remaining amount would be recorded as a debit to the Land account and a credit to the Notes Payable account.

c. Bought $900 of supplies on account. This transaction involves a purchase on credit (where payment is due at a later date). The purchase would be recorded as a debit to the Supplies account and a credit to the Accounts Payable account.

d. Purchased $10,000 of equipment, paying cash. This transaction involves a purchase of equipment (a long-term asset) and a payment in cash. The purchase would be recorded as a debit to the Equipment account and a credit to the Cash account.

e. Paid $500 on account for supplies purchased in transaction (c). This transaction involves a payment on a previous purchase made on credit. The payment would be recorded as a debit to the Accounts Payable account and a credit to the Cash account.

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Why are your student loan and home loan paid more quickly using this method than if you had followed their standard repayment plan?

Answers


The debt snowball approach, which prioritizes repaying the loan with the lowest balance, can help you pay off individual loans more quickly than the debt avalanche approach. Both home debts and student loans can be paid off using this strategy. Borrowers can pay off their loans faster and for less money by making extra loan payments than if they had followed the recommended repayment schedule. Making wiser payments and planning installments can also aid in lowering student loan debt.

what likely effect will a new tariff have on the price of an imported product

Answers

\(⇒\)

Tariffs increase the prices of imported goods. Because of this, domestic producers are not forced to reduce their prices from increased competition, and domestic consumers are left paying higher prices as a result.

The different types of contract are express contract,_________
contract, unilateral contract, and bilateral contract.

Answers

Answer:

The answer is Implied.

Explanation:

The different types of contract are express contract, Implied

contract, unilateral contract, and bilateral contract.

what is medium level profession​

Answers

Medicine,agriculture,finance,tourism,teaching public services are the sectors of profession. In every field ,professions are of basic,medium and high levels.for e.g. , assistant health workers (A H W) are the basic level human resources while health assistants (HA)are medium level professionals.
Hope it helps :)

Economics: The supply of a good available in a market is likely to decrease when:
A. companies believe that the product's selling price will go up.
B. governments reduce regulations and taxes on a product.
O C. few workers have the skills needed to create the product.
D. technology used to make the product becomes widely available.
SUBMIT

Answers

Answer:

c. few workers have the skills needed to create the product

Explanation:

Competition among sellers (producers) lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy.

A. Explain how the above (free market competition) would be an advantage for you, the consumer.

B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.

Answers

Answer:

A. Explain how the above (free market competition) would be an advantage for you, the consumer.

Free market competition is advantageous to the consumer because it promotes the supply of many goods and services, at a lower price than other market structures like oligopoly or monopoly.

In the free market, there are many firms, none have market power, and they produce goods and services that have many substitutes. This means that if a firm raises the price of a good, consumers simply flock to another firm that offers a similar product. This mechanism obliges firms to offer their goods at the market-clearing price, which is the best price for the consumer.

B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.

Oligopolies ocurr when there are only a few firms in the market, and monopoly ocurrs when there is only one firm. These two market structures allow firms to charge higher prices than the market-clearing price, and to supply less quantity than the market-clearing quantity.

Besides, oligpolies and monopolies are characterized by high barriers to entry and exit, which keep potential competing firms out of market, inhibiting competition.

Do you think a luxury brand can ever be called good value? Explain your answer


yes like sometimes because in quality or the design and Makes something good.

Answers

I do believe luxurious brands are very picky with there titles

internal auditors review all aspects of operations in search of improvement, as well as review the internal control structure to determine if they are operating as expected. group of answer choices true false

Answers

Internal auditors review all aspects of operations in search of improvement, as well as review the internal control structure to determine if they are operating as expected

This statement is true.

An internal auditor (IA) is a qualified professional who works for a company to give unbiased, independent assessments of all aspects of the company's financial and operational operations, including corporate governance.

They are responsible for making sure businesses adhere to rules and laws, follow correct procedures, and operate as effectively as feasible.

An internal auditor (IA) is a qualified expert tasked with conducting unbiased assessments of the financial and operational business operations of a corporation.

They are used to make sure businesses operate effectively and adhere to proper processes. Senior management receives final reports that may also contain recommendations.

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What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.

Answers

Answer:

A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOU

A fan base is, in most ways, quite similar to a customer base.
A. False
B. True

Answers

The correct answer is ‘True’.
True in some ways. A fan supports the person statistically however a customer supports a person financially


Diego wants to buy a dirt bike. He borrows a $7,999 simple interest loan from the bank
for 36 months at an interest rate of 9.7%.How much simple interest will he pay

Answers

Answer:

$ 2,327.709

Explanation:

Only the principal amount is considered when calculating simple interest. In simple interest, the principal amount remains constant. The formula for simple interest is as I = p x i x t

where I = interest

P = principal amount ...

i= interest rate

t= time

For Diego, p= $7,999, i= 9.7% , t 36 months or 3 years

Diego will pay

I= 7999 x( 9.7/100) x 3

I= 7999 x 0.097 x 3

Diego will pay  $ 2,327.709

Suppose a mutual fund has 10 million shares outstanding, assets with a total value of $30 million,of which $500,000 is cash, and fund liabilities of $500,000. What is the current NAV per share

Answers

Answer:2.95

Explanation:

Based on the given assets, cash fund, and liabilities, the Mutual fund's NAV per share is $2.95.

What is the Mutual Fund's NAV per share?

This can be found by the formula:

= (Assets + Cash - Liabilities)/Number of Shares

Solving gives:

= (30,000,000 - 500,000) / 10,000,000

= 29,500,000 / 10,000,000

= $2.95 per share

In conclusion, the NAV per share is $2.95 per share.

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