Given the following distribution:
Outcome Value of
Random Variable
Probability
A 1 .4
B 2 .3
C 3 .2
D 4 .1
The expected value is 3.
FALSE
You might also like to view...
Historically, the lagoon in Venice provided Venetians with a safe haven from Germanic and Hun invaders
Indicate whether the statement is true or false
A telecommunications company offers its salespeople a traditional straight commission compensation plan based on a percentage of dollar sales. The company will incur the highest total personal selling expenses when
A. total sales revenue is at its highest. B. total units returned are at their lowest. C. total customer service costs are minimized. D. total units sold are at their highest. E. total marketing costs are at their lowest.
In a merchandising firm, authorization for the payment of inventory is the responsibility of
a. inventory control b. purchasing c. accounts payable d. cash disbursements
What was the doctrine of caveat emptor in sales or lease contracts?
A) It was law balanced risk of loss between seller and buyer. B) It was a law that stated the risk of loss was completely on the buyer. C) It was a law that gave more protection to the buyer in a sales contract. D) It was a law that stipulated the issue of warrants in sale or lease transactions.