Find the expected value.A contractor is considering a sale t…
Find the expected value.A contractor is considering a sale that promises a profit of $21,000 with a probability of .7 or a loss (due to bad weather, strikes, and such) of $15,000 with a probability of .3. What is the expected profit?
Read DetailsFind the expected value.An insurance policy sells for $730….
Find the expected value.An insurance policy sells for $730. Based on past data, an average of 1 in 60 policyholders will file a $10,000 claim, an average of 1 in 120 policyholders will file a $20,000 claim, and an average of 1 in 300 policyholders will file a $50,000 claim. What is the expected value to the company per policy sold?
Read DetailsIn order to pass any online class, especially this class, it…
In order to pass any online class, especially this class, it is essential to closely read & follow all the instructions/updates daily on the Homepage News. Students who don’t carefully check/read daily the Lecture & Lab D2L Homepage News information/updates (News changes at least once a week) & Exam Tips (i.e. do all the Optional Connect questions prior to taking your exam) most often get off to a poor start and fail the class.
Read DetailsWrite out on 3×5 cards/sheets, everything listed on each Cha…
Write out on 3×5 cards/sheets, everything listed on each Chapter Review Audio Video slide as instructed/spoken by me; do Not omit information & do Not add additional notes; usually about 3-6 cards/PowerPoint slides per chapter. I will review the Uploaded Week 1 Dropbox 3×5 cards/sheets and give students feedback if any 3×5 card needs to be corrected & resubmitted/Uploaded.
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