Answer: A
Step-by-step explanation:
To simplify 3w-4-w-9, we need to combine the like terms (terms that have the same variable and exponent).
3w - w = 2w
-4 - (-9) = -4 + 9 = 5
So,
3w - 4 - w - 9 = 2w - 13
Therefore, the expression 3w-4-w-9 is equivalent to 2w-13, which is option A.
Jill Janzen's gross weekly pay is $298. Her earnings to date for the year total $14,900. What amount is deducted from her pay each week for Social Security, which is taxed at 6.2%?
Jill's annual earnings can be calculated by multiplying her weekly pay by the number of weeks in a year: $298/week x 52 weeks/year = $15,496/year. Her earnings to date are $14,900, so she has earned an additional $596 in the current week.
Social Security is taxed at 6.2%, so the amount deducted from her pay each week is 6.2% of her gross weekly pay. That's 0.062 x $298 = $18.48.
Use a net to find the surface area of the prism.
A. 426m2
B. 213m2
C. 306m2
D. 336m2
The surface area of the rectangular prism in this problem is given as follows:
A. 426 m².
What is the surface area of a rectangular prism?The surface area of a rectangular prism of height h, width w and length l is given by:
S = 2(hw + lw + lh).
This means that the area of each rectangular face of the prism is calculated, and then the surface area is given by the sum of all these areas. -> net method.
The dimensions for this problem are given as follows:
5 m, 12 m and 9 m.
Hence the surface area of the prism is given as follows:
S = 2(5 x 12 + 5 x 9 + 12 x 9)
S = 426 m².
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if anyone could help me please? :)
The characteristics that shows that the graph is a proportional relationship is: D. The line connecting the points passes through the origin.
What is a graph of a proportional relationship?A graph of a proportional relationship is a straight line that passes through the origin (0, 0) on a coordinate plane, where the points on the line represent pairs of values that are in direct proportion to each other.
From the graph shown above, if we connect the points together, the line will pass through the origin, therefore, the correct answer is: D. The line connecting the points passes through the origin.
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The characteristics that tell you that the graph shows a proportional relationship are: A straight line can be drawn through the points and The line connecting the points passes through the origin. Option B and D are the correct answer.
A proportional relationship is a relationship between two variables where the ratio of their values is constant. This means that if we multiply one of the values by a constant, the other value also gets multiplied by the same constant.
The graph of a proportional relationship is a straight line that passes through the origin. This is because the ratio of the x- and y-values is constant, so the points can be plotted as a straight line.
The ordered pairs all have the same x- and y-values means that the two variables are perfectly correlated. This is not necessary for a proportional relationship, but it is a common characteristic.
The line connecting the points does not need to pass through the origin for the relationship to be proportional. However, if the line does pass through the origin, then the two variables are directly proportional. Option B and D are the correct answer.
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The ratio of the reclusive to gregarious was 3 to 14. And 15,300 lived in the valley, how many were gregarious?
The ratio of gregarious that lived in the valley is 126,00
What is Ratio?Ratio is the comparison of two quantities of the same kind or for comparing two or more quantities that are measured in the same units. It is also is a relationship between two things when it is expressed in numbers or amounts.
How to determine this
The total who lived in valley = 15,300
The ratio of Reclusive = 3
The ratio of Gregarious = 14
And the ratio of reclusive gregarious = 3 : 14
The total ratio = 3 + 14 = 17
To calculate the total amount of gregarious
= 14/17 * 15,300
= 12,600
Therefore, the total amount of gregarious is 12,600
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g(x)
12 fy
10
88
8
6
4
4-3-2-12
-8
10
-1²1
f(x)
4 5 6 x
Which statement is true regarding the functions on the
graph?
Of(6) = g(3)
f(3) = g(3)
f(3) = g(6)
f(6) = g(6)
PLEASE HURRY IM TIMED!!!!
Answer: f(3) = g(6)
Step-by-step explanation: if you plug them in we see that f of 3 on the y axis intercept g of x so we then go up and see that g of 6 intercepts f of 3 so therefore that is the answer
Pls help and show how you got the answer :) I really appreciate it
In 2006, the population will reach 109 million.
The correct answer is an option (d)
Here function [tex]f(x)=100(1.0153)^x[/tex] represents the population (in millions) x years after 2000
We need to find the year x when the population will reach 109 million.
i.e., for f(x) = 109, we need to find the value of x.
Consider function f(x),
[tex]f(x)=100(1.0153)^x[/tex]
Substitute f(x) = 109
⇒ [tex]109=100(1.0153)^x[/tex]
⇒ [tex](1.0153)^x=1.09[/tex]
Taking logarithm on both the sides.
⇒ x ln(1.0153) = ln(1.09)
⇒ x = ln(1.09) / ln(1.0153)
⇒ x = 5.675
⇒ x ≈ 6
So, the required year would be,
2000 + 6 = 2006
Therefore, the correct answer is an option (d)
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A car owner pays an annual premium of $780 for automobile insurance, including liability coverage of up to $100,000. The car owner pays this for seven years without needing to file a
single claim. Then the car owner causes an accident for which the other driver is claiming $32,000 in damages. How much more expensive were the costs of the accident than what the
car owner paid in premiums?
O $37,460
O $100,000
O $5,460
O $26,540
If owner of car paid $780 as annual premium, then the cost of the accident is $26540 more expensive than what car owner paid in premiums, correct option is (d).
The car owner paid a total of $780 per year for 7 years, which means that the total amount paid in premiums is:
⇒ Total premiums paid = $780 × 7 years = $5460,
When the owner caused an accident, the amount of damage claimed by other driver is $32000.
This means that cost of accident was : $32000 - $5460 = $26540 more expensive than what the "owner" had invested in his insurance policy.
Therefore, Option(d) is correct.
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The given question is incomplete, the complete question is
A car owner pays an annual premium of $780 for automobile insurance, including liability coverage of up to $100,000. The car owner pays this for seven years without needing to file a
single claim. Then the car owner causes an accident for which the other driver is claiming $32,000 in damages. How much more expensive were the costs of the accident than what the car owner paid in premiums?
(a) $37,460
(b) $100,000
(c) $5,460
(d) $26,540
Julie designs gardens for a living. For a year she kept track of the amount of time she spent designing the garden and whether or not the customer returned. She recorded the time and probability that a customer returned. To have the greatest probability of a returning customer, what amount of time should Julie spend per customer? Responses A 2 - 3 hours2 - 3 hours B 4 - 5 hours4 - 5 hours C 1 - 2 hours1 - 2 hours D 3 - 4 hours3 - 4 hours
Based solely on the information provided in the table, spending approximately 3-4 hours per customer would give Julie the best chance of a returning customer. So, correct option is C.
To determine the amount of time Julie should spend per customer to have the greatest probability of a returning customer, we need to find the time interval with the highest probability of return. Looking at the table, we see that the probability of return is highest for the 3-4 hour time interval with a probability of 7/8.
Therefore, Julie should spend 3-4 hours designing each customer's garden to have the greatest probability of a returning customer.
So, correct option is C.
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Complete question is:
Julie designs gardens for a living. For a year she kept track of the amount of time she spent designing the garden and whether or not the customer returned. She recorded the time and probability that a customer returned.
To have the greatest probability of a returning customer, what amount of time should Julie spend per customer?
TIME DESIGNING PROBABILITY OF RETURN
1-2 Hours 5/8
2-3 Hours 5/9
3-4 Hours 7/8
4-5 Hours 3/4
5-6 Hours 1/2
6-7 Hours 3/7
7-8 Hours 2/9
A. 1-2 Hours
B. 2-3 Hours
C. 3-4 Hours
D. 4-5 Hours
Point A is located at (1, 2). Point B is located at (4, 6). Use this information to determine the length of the line, rounded to the nearest whole number.
If Point A is located at (1, 2) and Point B is located at (4, 6), the length of the line between points A and B is 5 units.
To determine the length of the line between points A and B, we can use the distance formula, which is a formula used to calculate the distance between two points in a coordinate plane. The distance formula is:
d = √((x₂ - x₁)² + (y₂ - y₁)²)
where (x₁, y₁) and (x₂, y₂) are the coordinates of the two points and d is the distance between them.
Using the coordinates of points A and B, we can substitute their values into the distance formula to find the length of the line between them:
d = √((4 - 1)² + (6 - 2)²)
d = √(3² + 4²)
d = √(9 + 16)
d = √25
d = 5
Rounded to the nearest whole number, the length of the line is also 5 units.
In conclusion, we can use the distance formula to find the length of the line between two points in a coordinate plane. The distance formula uses the coordinates of the two points to calculate the distance between them. The resulting distance can be rounded to the nearest whole number, if needed.
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Given ƒ(x) = −3x², find ƒ(−10)
Answer:
-300
Step-by-step explanation:
You want the value of f(-10) given that f(x) = -3x².
EvaluationPut the value where the variable is and do the arithmetic.
f(-10) = -3(-10)² = -3(100) = -300
The value of f(-10) is -300.
<95141404393>
Jacque is using an unopened soup can for a school project and wants to paint it. If the can is 10 cm tall and has a diameter of 9 cm, at least how many square centimeters of paint is needed? Approximate using π = 3.14.
1,073.88 cm2
635.85 cm2
621.72 cm2
409.77 cm2
The amount of paint needed for the soup can is 409.77 cm².
How to find the surface area?Jacque is using an unopened soup can for a school project and wants to paint it.
The can is 10 cm tall and has a diameter of 9 cm. Therefore, the square centimetres of paint required to paint the soup is as follows:
Therefore,
surface area of a cylinder = 2πr(r + h)
where
r = radiush = heightTherefore,
r = 9 / 2 = 4.5 cm
h = 10 cm
surface area of a cylinder = 2 × 3.14 × 4.5(4.5 + 10)
surface area of a cylinder = 28.26(14.5)
surface area of a cylinder = 409.77 cm²
Therefore,
amount of paint needed = 409.77 cm²
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Solve for the value of w.
Answer:6
Step-by-step explanation:
7w-6 + 8w+6 = 90
15w=90
w=90/15
w=6
Julio's Bikes rents bikes for $10 plus $8 per hour. Willie paid $34 to rent a bike. For how many hours did he rent the bike?
Answer:
He rented the bike for 3 hours
Step-by-step explanation:
they charge $10 for just the bike and an adittional of $8 per hour and Willie payed $34 so u subtract 10 from 34 it leaves u with 24 and u then divide by 8 and u get 3 which means that he rented the bike for 3 hours :)
A trapezoid has bases of 6 1/3 yd and 8 1/5 yd, and a height of 3 3/4 yd. Compose the trapezoid into a parallelogram. What is the area of this trapezoid?
The area of this trapezoid is 14.42 square yards.
To compose the trapezoid into a parallelogram, we need to add a triangle to the top of the trapezoid, so that the top and bottom sides are parallel. The area of the triangle is equal to half the product of the base and height.
First, we need to convert the mixed numbers to improper fractions:
Base 1: 6 1/3 yd = 19/3 yd
Base 2: 8 1/5 yd = 41/5 yd
Height: 3 3/4 yd = 15/4 yd
The length of the top side of the triangle is equal to the difference between the two bases:
Top side = 41/5 - 19/3 = (123 - 95)/15 = 28/15
Now we can calculate the area of the triangle:
Triangle area = (1/2) x (28/15) x (15/4) = 7/4
The trapezoid can now be composed into a parallelogram, with base 1 as one side and base 2 as the other side. The height of the parallelogram is the same as the height of the trapezoid, which is 15/4 yd.
The area of a parallelogram is equal to the product of its base and height, so the area of the trapezoid is:
Parallelogram area = (19/3 + 41/5) x (15/4) = 865/60 = 14.42
Therefore, the area of the trapezoid is 14.42 square yards.
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Give the coordinates for all three possible
locations of the fourth vertex.
Y
9
8
7
6
5
4
3
2
1
0
X
1 2 3 4 5 6 7 8 9
Answer:
To find the coordinates for all three possible locations of the fourth vertex, we need to consider the three different ways that a parallelogram can be formed on a 9 by 9 grid.
Method 1: The fourth vertex is directly below the first vertex.
In this case, the coordinates of the fourth vertex are (5, 9), as shown below:
Y 9 8 7 6 5 4 3 2 1 0
X 1 2 3 4 5 6 7 8 9
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . X
Method 2: The fourth vertex is directly to the right of the first vertex.
In this case, the coordinates of the fourth vertex are (1, 5), as shown below:
Y 9 8 7 6 5 4 3 2 1 0
X 1 2 3 4 5 6 7 8 9
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
X . . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
Method 3: The fourth vertex is diagonal to the first vertex.
In this case, the coordinates of the fourth vertex are (5, 5), as shown below:
Y 9 8 7 6 5 4 3 2 1 0
X 1 2 3 4 5 6 7 8 9
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . X . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
. . . . . . . . .
Therefore, the coordinates for all three possible locations of the fourth vertex are (5, 9), (1, 5), and (5, 5).
The probability that a football team will win a match is 0.3. The probability that the team will draw is 0.1. Work out the probability the team will
a) not win
b) not draw
c) lose
d) not lose
The probabilities of the the team are 0.7, 0.9, 0.6 and 0.4
Working out the probabilities of the the teamGiven that
The probability that a football team will win a match is 0.3. The probability that the team will draw is 0.1a) not win
This means that
P = 1 - P(win)
So, we have
P = 1 - 0.3
P = 0.7
b) not draw
This means that
P = 1 - P(draw)
So, we have
P = 1 - 0.1
P = 0.9
c) lose
This means that
P = 1 - P(win) - P(draw)
So, we have
P = 1 - 0.3 - 0.1
Evaluate
P = 0.6
d) not lose
This means that
P = 1 - P(lose)
So, we have
P = 1 - 0.6
P = 0.4
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Drag each length to the correct location on the triangle. Each length can be used more than once, but not all lengths will be used.
What are the missing side lengths for triangle ABC?
4
4√2 8
8√2
12 4√3 8√3
60°
4√3
30°
The missing side lengths for triangle ABC are 4, 4√3, and 8.
Based on the given information, it seems that the triangle is a right-angled triangle with angles of 30°, 60°, and 90°. Let's find the missing side lengths for triangle ABC using the given lengths and angles.
Identify the triangle type.
Since we have angles of 30°, 60°, and 90°, we are working with a 30-60-90 right-angled triangle.
Determine the ratio of side lengths.
In a 30-60-90 triangle, the ratio of the sides is 1:√3:2.
Find the corresponding side lengths.
Using the given lengths and the 1:√3:2 ratio, we can determine the side lengths for triangle ABC:
- If the shortest side (opposite the 30° angle) is 4, then the other sides would be 4√3 (opposite the 60° angle) and 8 (hypotenuse, opposite the 90° angle).
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HELP FIND MULTIPLE REPRESENTATION OF POLAR COORDINATES
What is the area of the lawn of Serena's front yard, in square yards?
12 ft-
Driveway
Serena's Front Yard
72 ft
Lawn
-15 ft
Flower
Bed
15 ft
48 ft
My Progress
Copyright © 2023 by Camcutum Assocates. Alghts reserved. These materals, or any porton thereof, may not be reproduced or shared in any manner without express written consent of
3
Our square yard calculator allows you to easily find the total area of a surface. Additionally, if you wish to cover that surface with some material or to do some construction work, such as painting or gardening, it gives you an estimation of your material cost and labor cost.
The square yard calculator also allows you to use different units (imperial and metric) and seamlessly convert between the two. Want to enter your measurements in feet and get your area in square yards or square meters? We've got you covered. You can easily switch between units and get answers to questions like "How to convert from feet to yards?" or "How many square feet in a square yard?"
Carleigh, Inc., is a pork processor. Its plants, located in the Midwest, produce several products from a common process: sirloin roasts, chops, spare ribs, and the residual. The roasts, chops, and spare ribs are packaged, branded, and sold to supermarkets. The residual consists of organ meats and leftover pieces that are sold to sausage and hot dog processors. The joint costs for a typical week are as follows: Direct materials $84,500 Direct labor 29,000 Overhead 20,000 The revenues from each product are as follows: sirloin roasts, $68,000; chops, $71,000; spare ribs, $33,000; and residual, $9,800. Carleigh’s management has learned that certain organ meats are a prized delicacy in Asia. They are considering separating those from the residual and selling them abroad for $52,000. This would bring the value of the residual down to $2,650. In addition, the organ meats would need to be packaged and then air freighted to Asia. Further processing cost per week is estimated to be $27,500 (the cost of renting additional packaging equipment, purchasing materials, and hiring additional direct labor). Transportation cost would be $12,100 per week. Finally, resource spending would need to be expanded for other activities as well (purchasing, receiving, and internal shipping). The increase in resource spending for these activities is estimated to be $3,120 per week.
Carleigh, Inc. should separate the organ meats from the residual and sell them abroad, as it would increase their total revenue by $17,150 per week.
To determine whether Carleigh, Inc. should separate the organ meats and sell them abroad, we need to calculate the incremental revenue and incremental costs associated with this decision.
The incremental revenue would be the revenue generated from selling the organ meats abroad, which is $52,000 per week. The incremental cost would include the cost of further processing ($27,500 per week), transportation cost ($12,100 per week), and the increase in resource spending for other activities ($3,120 per week).
Therefore, the incremental cost would be $42,720 per week. Subtracting this from the incremental revenue of $52,000, we get an incremental profit of $9,280 per week.
However, this decision would also decrease the value of the residual from $9,800 to $2,650 per week. Therefore, we need to subtract this decrease in value from the incremental profit. This gives us a net increase in profit of $17,150 per week ($9,280 - $7,130).
Thus, it would be beneficial for Carleigh, Inc. to separate the organ meats and sell them abroad.
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Solve the formula for the specified variable. V =CLS for C
Answer:
To solve for C in the formula V = CLS, we need to isolate C on one side of the equation.
Starting with the given formula:
V = CLS
Divide both sides of the equation by LS:
V/LS = C
Therefore, the formula for C is:
C = V/LS
2. An equation for a line is = 6/5 . What will the new equation of this line be after it is rotated 90° counterclockwise around the origin
If new equation of this line be after it is rotated 90° counterclockwise around the origin, the equation of the new line after rotation is y = (-5/6)x
To find the new equation of a line after it is rotated 90° counterclockwise around the origin, we need to use the following formula:
(x', y') = (-y, x)
where (x, y) are the coordinates of a point on the original line, and (x', y') are the coordinates of the corresponding point on the new line after rotation.
We can start by finding the slope of the original line, which is given by:
y = (6x/5)
Rearranging this equation, we get:
x = (5/6)y
This tells us that the slope of the original line is 5/6.
To find the equation of the new line after rotation, we need to apply the formula above to two points on the original line. Let's choose two easy points to work with, such as (0,0) and (5,6).
Using the formula, we can find the new coordinates of these points after rotation:
(0', 0') = (-0, 0) = (0,0)
(5', 6') = (-6, 5)
Now we can find the slope of the new line using these two points:
slope = (6' - 0') / (5' - 0') = 5/-6 = -5/6
In summary, to find the new equation of a line after rotating 90° counterclockwise around the origin, we can use the formula (x', y') = (-y, x) to find the new coordinates of two points on the original line, and then use these points to find the slope of the new line. In this case, the new equation of the line is y = (-5/6)x.
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Prove: 36 + 324 + 900+. . . +(12n − 6)2 = 12n(4n2 − 1)
By mathematical induction, the given formula holds for all natural numbers n:
S(n) = 36 + 324 + 900 + ... + (12n - 6)² = 12n(4n² - 1)
How to solveTo demonstrate our point, mathematical induction can be employed.
We want to prove that the given formula holds for all natural numbers n:
S(n) = 36 + 324 + 900 + ... + (12n - 6)² = 12n(4n² - 1)
Using mathematical induction:
Step 1: Base case (n=1)
S(1) = 6² = 36
12 * 1 * (4 * 1² - 1) = 36
Since S(1) holds true, the base case is proven.
Step 2: Inductive step (Assume it's true for n=k, and show it's true for n=k+1)
Assumption: S(k) = 36 + 324 + 900 + ... + (12k - 6)² = 12k(4k² - 1)
We follow the exhaustive process to prove:
= 12(4k³ + 12k² + 11k + 3)
Since both expressions for S(k+1) are equal, the inductive step is proven.
Thus, by mathematical induction, the given formula holds for all natural numbers n:
S(n) = 36 + 324 + 900 + ... + (12n - 6)² = 12n(4n² - 1)
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it took people a very long time to Real like that zero is an important number. why do you think that people found difficult to accept zero as a number
Answer:
I think that people found difficult to accept zero as a number because people think that zero doesn't have any value. In a way yes Zero doesn't have value but zero is also a very important number because sometimes we need to solve some questions and we need to add value but if we need to add that particular value we should even subtract that value which makes it zero. So I think the reason is people don't think zero has any value. But in my point if view zero has many values.
I need some assistance with this ? Please
The real solution is 0, and the imaginary solution is 0.5 ± 0.866i.
What are the solutions of x?
The solutions of the equation is calculated as follows;
4x(x² - x + 1) = 0
This equation is satisfied when either 4x = 0 or x² - x + 1 = 0.
If 4x = 0, then x = 0 is a solution,
To find the solutions of x² - x + 1 = 0, we will use formula method;
x = [ -(-1) ± √((-1)² - 4(1)(1)) ] / (2(1))
x = [ 1 ± i√3 ] / 2
x = 0.5 ± 0.866i
Thus, the solutions of the cubic equation involves both real and imaginary solution.
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which fraction is equavilent to - 3/2
Answer: -1 1/2
Step-by-step explanation:
You simplify -3/2, which becomes -1 1/2!
A company sampled two groups of students and asked them "How many books did you read this month?" The table shows the data they collected. Select all of the true statements about the samples.
The true statements about the samples:
Both groups have the same median (4).
Group A has a lower mean than Group B (4 vs 4.25).
Both groups have multiple modes.
The range of values in Group B is greater than in Group A.
How to solveFor Group A, the average number is 4 with a range of numbers from 2 to 6. The middle value, also known as the median, is 4.
Using this information, we find that values 3, 4, and 5 occur twice each within the dataset.
For Group B, the mean, or average, number is found to be 4.25 among eight total entries ranging from a low of 1 to a high of 7.
Calculating for the middle value, which is defined as the median, it can be seen that the resulting output is again equivalent to 4. Of all data inputs, the two top-occurring amounts are 4 and 5, both appearing twice in the listing.
Here are the true statements about the samples:
Both groups have the same median (4).
Group A has a lower mean than Group B (4 vs 4.25).
Both groups have multiple modes.
The range of values in Group B is greater than in Group A.
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A company sampled two groups of students and asked them "How many books did you read this month?" The table shows the data they collected:
Group A: [3, 4, 5, 2, 5, 6, 3, 4]
Group B: [1, 6, 4, 5, 2, 5, 4, 7]
If the gross amount is USD 365, what is the net amount after adding 20%?
USD 438
Step-by-step explanation:If we add 20% to the gross amount of USD 365, the total amount would be:USD 365 + 20% of USD 365 = USD 365 + (0.20 * USD 365) = USD 365 + USD 73 = USD 438
If the gross amount is USD 365, then the net amount after adding 20 percent is USD 438.
Net amount refers to the final total after deductions or additions have been made whereas gross amount refers to the total amount before any deductions or additions have been made.
Us the formula:
Net Amount = Gross Amount + (Gross Amount x Percentage)
Given that,
Gross amount = $365
The given percentage = 20%
We can write 20% = 20/100
So, 20% = 0.2
Now put the values into the formula
Net amount = 365 + (365 x 0.2)
Net amount = 365 + 73
Net amount = 438
Hence,
The net amount is USD 438.
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What is the surface area of a right circular cylindrical oil can, if the radius of its base is 4 inches and its height is 11 inches?
A) 85π in
B)100π in
C)120π in
D)225π in
The surface area of the right cylindrical oil can is 120π in² and the right option is C) 120π in².
What is surface area?
The surface area of a solid object is a measure of the total area that the surface of the object occupies.
To calculate the surface area of the right cylindrical oil can, we us the formula below
Formula:
S.A = 2πr(r+h)...................Equation 1Where:
r = Radius of the baseh = Height of the cylinderS.A = Surface area of the cylinderFrom the question,
Given:
r = 4 inchesh = 11 inchesSubstitute these values into equation 1
S.A = 2×4×π(11+4)S.A = 120π squared in.Hence, the right option is C) 120π in².
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A construction company is planning to bid on a building contract. The bid costs the company $1100. The probability that the bid is accepted is 1/10
. If the bid is accepted, the company will make $96,000 minus the cost of the bid.
What is the expected value in this situation?
Choose the statement below that best describes what this value means.
A.
In the long run, the construction company would expect to earn this amount on average per bid.
B.
In the long run, the construction company would expect to break even on average.
C.
In the long run, the construction company would expect to lose this amount on average per bid.
D.
None of the above
Answer:
The expected value in this situation can be calculated as follows:
E(X) = P(X) * V(X), where X is the random variable representing the profit of the construction company, P(X) is the probability of X, and V(X) is the value of X.
In this case, the profit of the construction company if the bid is accepted is $96,000 - $1,100 = $94,900, and the probability of the bid being accepted is 1/10. Therefore, we have:
E(X) = (1/10) * $94,900 = $9,490
The expected value of $9,490 means that in the long run, the construction company would expect to earn this amount on average per bid. Therefore, the correct answer is option A: "In the long run, the construction company would expect to earn this amount on average per bid."