Let x be a random variable representing the amount won on a single lottery ticket. a) if the jackpot is worth $1,000,000, what is the expected value of x? b) what is your expected gain (gain = amount won – amount spent) when you buy one lottery ticket? c) what is the probability that you win $2 or more? d) at what jackpot amount would you expect to break even when you purchase a single lottery ticket? e) among players who win, what’s the expected amount won?

Which are the best examples of costs that should be considered when creating a project budget?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

Acompetitive market in healthcare would a. overprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers b. underprovide healthcare because it would eliminate medicare and medicaid c. underprovide healthcare because the marginal social benefit of healthcare exceeds the marginal benefit perceived by consumers d. overprovide healthcare because it would be similar to the approach used in canada