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27 November, 09:15

the distance to your brother's house is 416 miles, and the distance to Denver is 52 miles. if it took 8 hours to drive to your brother's house, how long would it take to drive to Denver?

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Answers (2)
  1. 27 November, 09:41
    0
    Explanation

    As long as the expected value of the payoff isn't negative, the Universal price cut would be statistically worthwhile.

    Expected payoff = [Probability of rival not matching * Gain from price cut] + [Probability of rival matching * Loss from price cut]

    Remember that:

    Probability that rivals don't match + Probability that rivals match = 1

    If the probability that rivals don't match = ρ, then the probability that rivals match = 1 - ρ.

    Substitute these probabilities into the expected value equation along with the loss and gain from price changes.

    Expected payoff = [ (ρ) * $1,000,000] + [ (1 - ρ) * $-20,000]

    Expected payoff = [$1,000,000ρ] + [$-20,000 + $20,000ρ]
  2. 27 November, 10:36
    0
    Answer: 64 Hours

    Step-by-step explanation:

    First you set up you fraction. So you write 416 miles over 8 hrs. Then you divide 416 by 52 and whatever answer you get you multiply that times 8 hrs. So since 416 divided by 52 was 8 you multiple the denominator 8 times 8 and get 64 I hope i explained thouroughly
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