A lab orders a shipment of 100 rats a week, 52 weeks a year, from a rat supplier for experiments that the lab conducts. prices for each weekly shipment of rats follow the distribution below: price $10.00 $12.50 $15.00 probability 0.4 0.15 0.45 how much should the lab budget for next year's rat orders, assuming the distribution does not change. (hint: find the expected price.) do not put a dollar sign in the box of your answer. answer to 2 decimal places.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A lab orders a shipment of 100 rats a week, 52 weeks a year, from a rat supplier for experiments that the lab conducts. prices for each ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Danny "Dimes" Donahue is a neighborhood's 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.50 each, he sells 100. At a price of $1.00 each, he sells 300. a.
Answers (1)
A multidomestic company is: a. the domestic operations within a foreign country. b. an organization with multicountry affiliates. c. an organization that attempts to standardize operations world
Answers (1)
Paper Co. had net income of $70,000 during the year. The dividend payment was $10,000. The following information is available: Mortgage repayment $20,000 Available-for-sale debt securities purchased 10,000 increase Bonds payable-issued 50,000
Answers (1)
A hardware store will run an advertising campaign using radio and newspaper. every dollar spent on radio advertising will reach 60 people in the "under $30,000" market, and 40 people in the "over $30,000" market.
Answers (1)
If an identical product can be sold in two different markets, and no restrictions exist on the sale or transportation of product between markets, the product's price should be the same in both markets. This is known as: A. equilibrium. B.
Answers (2)
New Questions in Business
The balanced scorecard approach uses only financial measures to evaluate performance. uses rather vague, open statements when setting objectives in order to allow managers and employees flexibility.
Answers (1)
In the open economy of Sildavia, government spending during 2005 was $30 billion, consumption was $70 billion, taxes were $20 billion, and GDP was $100 billion.
Answers (1)
Ridiculousness, Inc., has sales of $49,000, costs of $22,600, depreciation expense of $2,150, and interest expense of $1,900. If the tax rate is 21 percent, what is the operating cash flow, or OCF?
Answers (1)
A common measure of liquidity is a. the accounts receivable turnover. b. dividends per share of common stock. c. the asset turnover ratio. d. the profit margin.
Answers (1)
Assume that Amazon has a stock-option plan for top management. Each stock option represents the right to purchase a share of Amazon $1 par value common stock in the future at a price equal to the fair value of the stock at the date of the grant.
Answers (1)