Problem regarding the business-procurement venture

Assignment Help Accounting Basics

Reference no: EM13975369

OfficeQuip is a small office supply firm that is currently bidding on furniture and office equipment contracts with four different potential customers who are of comparable size. For each contract, OfficeQuip would gain a profit of $50,000 if that contract were accepted, so the company could make as little as $0 or as much as $200,000. The four potential customers are making independent decisions, and in each case the probability that OfficeQuip will receive the contract is 0.40. When all the decisions have been made, what is the probability that OfficeQuip will receive none of the contracts? Exactly one of the contracts? Exactly two of the contracts? Exactly three of the contracts? All four contracts? Overall, what is OfficeQuip's expected profit in this business-procurement venture?

Reference no: EM13975369

Questions Cloud

Graders in unorganized activities : On the average, how many student-days elapse between injuries to fourth to sixth graders in unorganized activities at school, and what is the probability that the next such injury will occur before 45 thousand student-days have passed?

How do you control concurrency in the agile process : All modern programming languages implement the structured programming constructs, Provide examples from three programming languages that show structured programming constructs

Duration of the dinner event : Assuming that Hargrove students are typical in terms of susceptibility to allergies and that the college president's home happens to contain just about every common allergen to which afflicted persons react, what is the probability that at least 8..

Determine the estimated loss if the quality characteristic : Determine the estimated loss if the quality characteristic under study takes on a value of 6.20 inches and 10 parts are produced.

Problem regarding the business-procurement venture : Exactly two of the contracts? Exactly three of the contracts? All four contracts? Overall, what is OfficeQuip's expected profit in this business-procurement venture?

Escape with minimal damage : What is the probability that the worst will occur and she will have surprise quizzes in all three classes? What is the probability that she will escape with minimal damage and have a quiz in only one of the three classes?

What is the main benefit of this proposal : What is the main benefit of this proposal? What is the main drawback of this proposal?

What is magnitude of average induced electromotive force : A flexible wire loop has a radius of r = 15.3 cm and it is inside a uniform magnetic field of B = 0.529 T. The loop is grasped at points P and Q and stretched until its area is zero. It takes 184 ms to close the loop. What is the magnitude of the ..

Overall graduation rate for football players : 1. It has been reported that the overall graduation rate for football players at Division I-A colleges and universi- ties is 65%. Source: "How Football Rates," USA Today, December 20, 2005, p. 12C.

User Account

All Pages