Four Entrepreneurial Students Want to Open a Shaved Ice Business

question 45

Multiple Choice

Four entrepreneurial students want to open a shaved ice business during the coming summer.Maxine thinks that demand will be high and therefore they should purchase a large stand and acquire a premium ice shaving machine.Minnie feels strongly that demand will be low and that they should purchase a tarp and some basic hand tools to work the ice.Midelia is pretty sure that demand will fall in-between these two extremes,so they can get by with a shack and a used ice shaving machine.Their financial wizard of the bunch,Probableah,has estimated the costs,revenues,and likelihoods of each level of demand and created the table shown below.What is the expected profit for this venture?

• A) $1700
• B) $2300
• C) $2900
• D) $3300

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Definitions:

Susan Folkman

A psychologist known for her research on stress, coping, and appraisal.

Moderate Exercise

Physical activity that is of moderate intensity, beneficial for health, and includes activities like brisk walking.

Nervous System

The complex network of nerves and cells that transmit signals between different parts of the body.

Circulatory System

The body's system responsible for the transport of blood, nutrients, gases, and wastes, including the heart, blood vessels, and blood.