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:

UCC

The United States has implemented the Uniform Commercial Code, a wide set of legal principles, to govern commercial exchanges.

Consideration

In contract law, something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.

Valid Consideration

A component of contract law that ensures all parties involved agree to give or do something of value in exchange for a benefit.

Bilateral Contract

A promise exchanged for a promise.