Top Posters
Since Sunday
25
10
9
6
w
3
M
3
C
2
l
2
2
s
2
2
2
New Topic  
pduvin pduvin
wrote...
Posts: 679
Rep: 0 0
4 years ago
Lobster Liquidators will make $500,000 if the fishing season weather is good, $200,000 if the weather is fair, and would actually lose $50,000 if the weather is poor during the season. If the weather service gives a 40% probability of good weather, a 25% probability of fair weather, and a 35% probability of poor weather, what is the expected monetary value for Lobster Liquidators?
A) $500,000
B) $750,000
C) $267,500
D) $200,000
E) $232,500
Textbook 

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
Read 65 times
2 Replies
Replies
Answer verified by a subject expert
pachopacho
wrote...
Top Poster
Posts: 682
4 years ago
Sign in or Sign up in seconds to unlock everything for free
More questions for this book are available here
E
Explanation:  E) 0.40($500,000) + 0.25($200,000) + 0.35(-$5,0000) = $232,500
1
-Michigan State University

Related Topics

wrote...
A month ago
Thx
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  99 People Browsing
 730 Signed Up Today
Your Opinion
How often do you eat-out per week?
Votes: 10

Related Images
 3055
 152
 82