Use the Following Two Probability Distributions for Sales of a Firm

question 22

Multiple Choice

Use the following two probability distributions for sales of a firm to answer the following question: The expect value of sales for Distribution 1 is _____________.

• A)2,500
• B)2,758
• C)2,800
• D)3,000
• E)4,000

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Definitions:

Accounting Information System

A system designed to collect, store, manage, process, retrieve, and report financial data for decision making.

Flexibility Principle

In accounting, it refers to the principle that financial reporting and its practices should be flexible enough to adapt to changes in the business environment or in accounting standards.