0
What else can I help you with?
A contractor is considering a sale that promises a profit of 36000 with a probability of 0.7 or a loss of 6000 with a probability of 0.30 What is the expected profit?
expected profit should be : 0.7($36,000) - 0.3($6,000) = $23,400
Suppose the probably of rain is 50 percent what profit can the concession stand expect to make?
If the probability of rain is 50 percent, the concession stand can expect to make a profit that reflects both scenarios: one where it rains and sales are lower, and one where it doesn't rain and sales are higher. To calculate the expected profit, the stand would need to estimate profits for each scenario, multiply those by their respective probabilities (50% for each), and then sum the results. Without specific profit figures for rainy and sunny conditions, the exact expected profit cannot be determined.
What do you think about including opportunity cost in the performance evaluation of a data mining model?
Opportunity cost can be defined as the cost of any activity measured in terms of the value of the next best alternative foregone (that is not chosen). It is the sacrifice related to the second best choice available to someone, or group, who has picked among several choices. Opportunity Cost is a choice depends on what has to taken up. We can have an option of two or more options has Opportunity cost. Opportunity Cost is helpful when calculating the price and profit of choices. Although opportunity costs are not generally considered by accountants-financial statements only include explicit costs, or actual outlays-they should be considered by managers. Most business owners do consider opportunity costs whenever they make a decision about which of two possible actions to take. Small businesses factor in opportunity costs when computing their operating expenses in order to provide a bid or estimate on the price of a job.
What is a derived attribute?
A derived attribute's values is derived from other attribute. It is a figure that relies on other figures to form an answer, like figuring out profit from a sale.
What are the disadvantage of exclusive distribution?
Exclusive distribution generally only works for products that have a high price and high profit margin. Using this method focuses on one dealer, which is a major disadvantage.
What is the difference between Reserves and Provision?
Reserve is a an amount set aside from the profit when it is calculated. On the other hand provision is an amount charged against profit and loss in order to assist in calculating the accurate profit.
When calculating gross profit is the debit side a profit or loss?
profit
What is the formula for calculating profit per cent?
It is 100*profit/costs.
Which Methods are used for calculating national income in India?
The income of a country can be calculated by three different procedures. The products produced, domestic profit and the amount spent.
What does controllable profit mean?
Controllable profit measures managerial performance Divisional profit measures divisional performance.
Is operating expense on Profit and Loss?
Operating expense is a loss, but is used in calculating overall profit.
Profit is calculated by subtracting costs from?
Profit is calculated by subtracting operating costs from gross revenues.
Profit is calculated by subtracting from revenues.?
Profit is calculated by subtracting __costs__ from revenues. Apex answers
What's the difference between margin and markup when calculating profits?
Margin is the percentage of profit made on the selling price, while markup is the percentage of profit made on the cost price. Margin is calculated as (Selling Price - Cost Price) / Selling Price, while markup is calculated as (Selling Price - Cost Price) / Cost Price.
What is the formula for calculation a bonus based on profit while deduction the bonus your calculating from the profit figure?
hey here comes the answer of calculating bonus=overtime hours multiplied by rate per hour ..........thanks
Formula for calculating net profit?
Sales Less: Cost of sales Gross Profit Less: Admin Expenses Selling Expenses Other Expenses Net Profit
What is the formula for calculating loss?
You calculate loss the same as you would do profit income minus expenses (outgoings) = profit/loss If the answer is negative then you are making a loss, if the answer is positive then you are making a profit.
