Business, 04.07.2020 18:01 colton7856

Bulloch County has never allowed liquor to be sold in restaurants. However, in three months, county residents are scheduled to vote on a referendum to allow liquor to be sold by the drink. Currently, polls indicate there is a 60% chance that the referendum will be passed by voters. Phil Jackson is a local real estate speculator who is eyeing a closed restaurant building that is scheduled to be sold at a sealed bid auction. Phil estimates that if he bids $1.25 million, there is a 25% chance he will obtain the property; if he bids $1.45 million, there is a 45% chance he will obtain the property; and if he bids $1.85 million, there is an 85% chance he will obtain the property. If he acquires the property and the referendum passes, Phil believes he could then sell the restaurant for $2.2 million. However, if the referendum fails, he believes he could sell the property for only $1.15 million. a. Develop a decision tree for this problem. b. What is optimal decision according to EMV criterion?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 12:30

Diener and wallbom (1976) found that when research participants were instructed to stop working on a problem after a bell sounded, 71 percent continued working when left alone. how many continued to work after the bell if they were made self-aware by working in front of a mirror?

Answers: 2

Answer

Business, 22.06.2019 19:00

Which of the following is likely not a benefit of requiring a grand jury to listen to and examine all of the evidence against a person suspected of committing a serious crime and then independently deciding whether or not to hand down an indictment? 1.the grand jury system provides the accused another safeguard against being sent to trial and facing conviction based on flawed evidence. 2.the members of the grand jury are drawn from the community and are empowered to render independent decisions about whether or not the government has collected enough evidence to bring an individual to trial. 3.the grand jury’s decision can provide prosecutors insight into what is necessary to build a sufficient case if a similar crime is presented later. 4.the grand jury is impaneled to rubber-stamp prosecutors’ cases, which makes it possible for more cases to reach trial.

Answers: 2

Answer

Business, 22.06.2019 22:00

Consider the labor market for heath care workers. because of the aging population in the united states, the output price for health care services has increased. holding all else equal, what effect does this have on the labor market for health care employees? a. the equilibrium wage increases and the equilibrium quantity of labor increases.b. the equilibrium wage increases and the equilibrium quantity of labor decreases.c. the equilibrium wage decreases and the equilibrium quantity of labor increases.d. the equilibrium wage decreases and the equilibrium quantity of labor decreases.

Answers: 2

Answer

Business, 22.06.2019 23:30

Lucido products markets two computer games: claimjumper and makeover. a contribution format income statement for a recent month for the two games appears below: claimjumper makeover total sales $ 30,000 $ 70,000 $ 100,000 variable expenses 20,000 50,000 70,000 contribution margin $ 10,000 $ 20,000 30,000 fixed expenses 24,000 net operating income $ 6,000 required: 1. compute the overall contribution margin (cm) ratio for the company.. 2. compute the overall break-even point for the company in dollar sales. 3. complete the contribution format income statement at break-even point for the company showing the appropriate levels of sales for the two products. (do not round intermediate calculations.)

Answers: 1

Answer

You know the right answer?

Bulloch County has never allowed liquor to be sold in restaurants. However, in three months, county...

Questions