Chris Has Determined That the Probability of Earning a 95

question 31

Multiple Choice

Chris has determined that the probability of earning a 95 on the next economics test is 10%,the probability of earning an 85 is 40%,and the probability of earning a 75 is 50%.
Chris's expected test score is _______.

• A)85
• B)81
• C)75
• D)78

---

Definitions:

Controllable Cost

A cost over which a manager has control.

Actual Cost

The actual expense incurred to acquire an asset or service, including all costs necessary to bring the asset into use or to complete the service.

Responsibility Accounting

A system of accounting that segments financial information by areas of responsibility within an organization, aiding in budgeting and performance evaluation.

Responsibility Reports

Reports designed to evaluate the financial performance of different segments of an organization, focusing on areas under a manager's control.