If There Is a 50% Probability That Joseph Will Earn

question 156

Multiple Choice

If there is a 50% probability that Joseph will earn $10 per hour at his job today and a 50% probability that he will earn $20 per hour today,his expected pay per hour is:

• A)$10.00.
• B)$12.50.
• C)$15.00.
• D)$20.00.

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Definitions:

Consideration

A value promised in a contract that each party agrees to exchange, which is necessary for a valid agreement.

Liquidated Debts

Debts for which the amount owed is known and agreed upon by all parties involved.

Unliquidated Debts

Unliquidated debts refer to obligations or claims for which the exact monetary value has not been determined, often pending further assessment or legal resolution.

Technical Consideration

Specific technical factors or details that are taken into account in the assessment or development of a project, product, or system.