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Risk and Uncertainty

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Risk and Uncertainty

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • August 2, 2017 at 2:14 am #399928
    yunush
    Participant
    • Topics: 1
    • Replies: 1
    • ☆

    The probability of an organisation making a profit of $180,000 next month is half the probability of it making a profit of $75,000.

    What is the expected profit for next month?

    Please help me with a step by step solution to this question.

    August 2, 2017 at 8:31 am #399972
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    Why are you attempting questions for which you do not have an answer? You should be using a Revision Kit published by one of the ACCA approved publishers – they have answers and workings to the questions!!

    If the probability of one outcome is half that of the other, then out of every 3 occasions then 1 will be one outcome and 2 will be the other.
    So the probabilities are 1/3 and 2/3

    So the expected profit is (1/3 x 180,000) + (2/3 x 75,000)

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Viewing 2 posts - 1 through 2 (of 2 total)
  • The topic ‘Risk and Uncertainty’ is closed to new replies.

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