What Is the Closing Value of One December Futures Contract

question 100

Multiple Choice

What is the closing value of one December futures contract on wheat?
$\begin{array}{llll}&\text { Contact } & \text { Open } & \text {High} & \text { Low}& \text { Close}\\\text { Dec. Corn. }&\text { 5,000 bu, cents/bu } & 620.50 & 623.50 & 613.00 & 617.00\\\text { Dec. Wheat, }&\text { 5,000 bu, cents/bu } &750,00 &766.00 &745.00 & 752,00\end{array}$

• A)$3.76
• B)$376.00
• C)$37,600
• D)$376,000
• E)$3,760,000

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Definitions:

High-Value

Refers to items or services that are of significant worth, often due to their quality, scarcity, or demand.

Low-Value

Describes items or services perceived as offering limited benefit or worth compared to their cost or other alternatives.

Expected Value

A calculated average of all possible values for a random variable, weighted by their respective probabilities.

Low-Value Bidders

Participants in an auction or tender process who submit bids that are significantly lower than those of other bidders.