S&P 400 Midcap (CME) - $500 * Index -You Purchased Eight March S&P Midcap Futures at a Price

question 19

Multiple Choice

S&P 400 Midcap (CME) - $500 * Index

$\begin{array}{lcccccccc} & & & & & &{\text { Lifetime }} && \text { Open } \\& \text { Open } & \text { High } & \text { Low } & \text { Settle } & \text { Chg } & \text { High } & \text { Low } & \text { Int } \\\text { Mar } & 502.25 & 506.30 & 497.25 & 505.75 & +2.50 & 532.50 & 474.15 & 1,432 \\\text { Apr } & 501.25 & 508.75 & 496.75 & 504.30 & -1.25 & 540.35 & 478.30 & 867\end{array}$
-You purchased eight March S&P Midcap futures at a price of 482.15 and sold them at the low price of the day. What was your dollar return?

• A) $60,400
• B) $59,860
• C) $62,560
• D) $61,440
• E) $61,840

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Definitions:

Variable Ratio Schedule

A type of operant conditioning reinforcement schedule in which a response is reinforced after an unpredictable number of responses.

Reinforcement

In behavioral psychology, a consequence applied to an organism's environment that causes an increase in the likelihood of a repeat of the preceding behavior.

Rewards

Benefits, compensation, or other forms of acknowledgment provided to individuals or organizations as recognition of their accomplishments or desired behavior.

Schedule of Reinforcement

A schedule of reinforcement is the pattern and timing of rewards or punishments that influence the learning and behavior of individuals.