On Any Given Day,a Salesman Can Earn $0 with a 30

question 30

Multiple Choice

On any given day,a salesman can earn $0 with a 30% probability,$100 with a 20% probability,or $300 with a 50% probability.His expected earnings equal

• A) $0.
• B) $100.
• C) $150.
• D) $170.

---

Definitions:

Limited Partner

A type of investor in a partnership who has limited liability and is not involved in the day-to-day management of the business.

Profits

The financial gain obtained after subtracting all expenses, costs, and taxes from revenue.

Low-profit Limited Liability Companies

Business entities that blend nonprofit and for-profit elements, focusing on social goals while being able to generate profit.

Legislation

Laws or statutes enacted by a government's legislative body.