What is the EMV for Option 1 in the following decision table?
States of Nature
Alternatives S1 S2
p .3 .7
Option 1 15,000 20,000
Option 2 10,000 30,000
A) 15,000
B) 17,000
C) 17,500
D) 18,500
E) 20,000
D
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Interviewing costs are dramatically reduced under which of the following sample type?
a. Systematic b. Simple random c. Stratified d. Cluster e. None of these
Kyle and Ursula owned a combination apartment building-restaurant. They shared their profits and losses on the venture equally, but they did not have any written partnership agreement. One day, Ursula died of a heart attack. If, after her death, Kyle continued to only own the same undivided interest in the real estate as he did before, then
A) they were joint tenants. B) they were tenants in common. C) they were stockholders in their own corporation. D) Ursula died intestate.