I don’t understand how the formula for the law of large numbers will look in this question. So far I have done this:

We can say that the probability of earning 1 euro is 

P(X = 1);

 and the probability of losing 1 euro is equal to 

P(X = -1);

We have probabilities for these two;

P(X = 1) = 19/37;

P(X = -1) = 18/37;

We can now compute the expected value of X, and since it’s a discrete variable we use the formula;

      (1)*19/37+(-1)*(18/37); = 1/37

We also know that the game is played 1000 times, 365 days a year, so 

1000*365; = 365000 times.

We then use the law of large numbers, which has the formula;

 

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I need help. I don’t understand how to find the costs.

In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows:

 2018 2019 2020Cost incurred during the year$1,976,000  $3,420,000  $2,424,400 Estimated costs to of year-end 5,624,000   2,204,000   0 Billings during the year 1,600,000   3,796,000   4,604,000 Cash collections during the year 1,400,000   3,200,000   5,400,000  

Westgate Construction uses the completed contract method of accounting for long-term construction contracts.

Required:

1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.

2-a. In the journal below, complete the necessary journal entries for the year 2018 (credit “Various accounts” for construction costs incurred).

2-b. In the journal below, complete the necessary journal entries for the year 2019 (credit “Various accounts” for construction costs incurred).

2-c. In the journal below, complete the necessary journal entries for the year 2020 (credit “Various accounts” for construction costs incurred).

3. Complete the information required below to partial balance sheet for 2018 and 2019 showing any items related to the contract.

4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information.

 2018 2019 2020Cost incurred during the year$2,540,000  $3,870,000  $3,240,000 Estimated costs to s of year-end 5,740,000   3,240,000   0  

5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information.

 2018 2019 2020Cost incurred during the year$2,540,000  $3,870,000  $4,110,000 Estimated costs to s of year-end 5,740,000   4,240,000   0 

Reference links

 

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I don’t want the most sophisticated and complex answer. What I want, is a an easy to understand, broken down answer. In plain language, not just symbols. Please approach this as you would if you were talking to someone who had a very low level grasp of the subject. My goal is to actually understand the subject, and up to now, I do not. Thank you.

 

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I dont like the congress rights given in the declaration it was a scape route of sorts for mthe same manipulation thats been going on since at least in americas time frame Andrew jackson and only gives every other office especially president the ability to turn the blame if ever found or questioned on the other partyso it is a trap to include they have all rights therefore they take awqy our rights declared in it to begin with and u dont ever get a fair jury by ur peers especially if they have beeen progranmmed wtf ever wake up avon calling

 

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I dont really have a mathimatical mind but I am going to learn web development. Were do I get started honing my math related skilss? ie, detuctive reasoning, logic, and i someone said discrete math…

Thanks,

~John

 

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