The expected value of a probability distribution is
A) the measure of the spread of the distribution.
B) the variance of the distribution.
C) the average value of the distribution.
D) the probability density function.
E) the range of continuous values from point A to point B, inclusive.
C
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A company forgot to record four adjustments during 2013 . Which one of the following omissions of adjustments will understate net income?
a. Sales made during the last week of the period are not recorded. b. Interest on monies borrowed has not yet been recorded. c. Prepaid insurance is not reduced for the portion of the policy that has expired during the period. d. Income taxes owed but not yet paid are ignored.
The write-down of an asset will affect
a. neither total assets nor net income. b. net income, but not total assets. c. both total assets and net income. d. total assets, but not net income.
Because of limits to rationality, decision-makers most often ______ rather than optimize.
A. weight B. generate C. satisfice D. identify
A small police department wants to buy a machine with which it can perform alcohol breath tests. It has never had this capability before but feels it is an essential tool as the community grows. The machine costs about $5,000, which is almost 75 percent of the department's entire supply budget. This purchase would be an example of a(n) _____ situation.
A. extensive buying B. low-involvement buying C. new-buy D. modified-rebuy E. straight-rebuy