Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 10, 2024

For an electric motor the demand is 0 , 1 , 2 , 3 , 4 per day with probabilities 1 / 8 , 2

For an electric motor the demand is $0, 1, 2, 3, 4$ per day with probabilities $1 / 8, 2 / 8, 1 / 8, 3 / 8, 1 / 8,$ respectively. If each electric motor sold returns $30$ USD profit, calculate the expected profit.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

9th Canadian Edition, Volume 2

978-0470161012

Students also viewed these Finance questions

Question

*42. Awareness survey. A telemarketer at a credit card company is instructed to ask the next 18 customers that call into the 800 number whether they are aware of the new Platinum card that the...

Answered: 1 week ago

Question

★★★★★

Following are the four assertions about account balances that can be applied to the audit of a companys PP& E, including assets the company has constructed itself: existence, rights and obligations,...

Answered: 1 week ago

Question

★★★★★

Marble Construction estimates that its WACC is 8% if equity comes from retained earnings. However, if the company issues new stock to raise new equity, it estimates that its WACC will rise to 8.9%....

Answered: 1 week ago

Question

★★★★★

Dehydration synthesis leads to formation of Select on or more: a. None of the answers is correct. b. water and larger polymers of molecules c. water and smaller polymers of the molecules of life. X...

Answered: 1 week ago

Question

★★★★★

SECTION 2 READING STUDY GUIDE Economic Choice Today: Opportunity Cost Before You Learned The economic problem of scarcity guides economists to ask and answer basic questions about the economy. Now...

Answered: 1 week ago

Question

★★★★★

Which of the following statements is not true regarding incremental and iterative development approaches? A) Both incremental and iterative approaches are used in adaptive projects. B) Both...

Answered: 1 week ago

Question

★★★★★

A merchant obtains the retail price of an item by adding 20% to the wholesale price. Later, he has a sale and marks every item down 20% from the retail price. Is the sale price the same as the...

Answered: 1 week ago

Question

★★★★★

One gallon equals 4 quarts. The following program intends to read a floating-point value from input, convert the value from quarts to gallons, and output the volume in gallons, but the code contains...

Answered: 1 week ago

Question

★★★★★

Cash $ 120,000 Accounts receivable 48,000 Maintenance expense 22,000 Advertising expense 17,360 Fees earned 128,800 Lisa Assaad, Capital, April 1 ? Salaries expense 61,000 Machinery 93,000 Accounts...

Answered: 1 week ago

Previous Question Next Question

Question

For an electric motor the demand is 0 , 1 , 2 , 3 , 4 per day with probabilities 1 / 8 , 2

For an electric motor the demand is 0,1,2,3,4 per day with probabilities 1/8,2/8,1/8,3/8,1/8, respectively. If each electric motor sold returns 30 USD profit, calculate the expected profit.

Step by Step Solution

Step: 1

Get Instant Access with AI-Powered Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Intermediate Accounting

Students also viewed these Finance questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

For an electric motor the demand is $0, 1, 2, 3, 4$ per day with probabilities $1 / 8, 2 / 8, 1 / 8, 3 / 8, 1 / 8,$ respectively. If each electric motor sold returns $30$ USD profit, calculate the expected profit.