What is the expected yield of the crop?
The U.S. Department of Agriculture estimates that the yearly yield of limes per acre is distributed as follows:
Yield, bushels per acre Probability
350 .10
400 .18
450 .50
500 .22
The estimated average price per bushel is $16.80.
A) 425
B) 442
C) 440
D) 475
Answer: B
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______ is the extent to which rules and procedures govern the activities of organization members.
A. Formalization B. Centralization C. Stabilization D. Complexity
A product is a price leader when
A. it is sold at the highest price. B. its price maximizes profits. C. an increase or decrease in price leads to increased revenue or lower costs. D. it is sold at less than cost in the hope that sales of other products will increase. E. its price leads the industry in sales.
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Answer the following statement true (T) or false (F)