Assume that half of all used cars are of good quality and worth $8,000, while half of all used cars are of poor quality and worth $6,000.
if a buyer possessed no information about the quality of the car she was considering, what would she be willing to pay for the average used car that is put up for sale? a) $8,000b) $7,000c) $6,000d) the buyer would choose not to buy because of the lack of information.

Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9

An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value

Your own record of all your transactions. a. check register b. account statement