Find all School-related info fast with the new School-Specific MBA Forum

It is currently 30 Aug 2014, 10:40

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Crops

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Manager
Manager
User avatar
Joined: 22 May 2007
Posts: 121
Followers: 1

Kudos [?]: 1 [0], given: 0

Crops [#permalink] New post 06 Nov 2007, 22:57
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
Under frost-free conditions, Cal Cultivators expects its strawberry crop to have a $60,000 market value. An unprotected crop subject to frost has an expected market value of $40,000. If Cal protects the strawberries against frost, then the market value of the crop is still expected to be $60,000 under frost-free conditions and $90,000 if there is a frost. What must be the probability of a frost for Cal to be indifferent to spending $10,000 for frost protection?

.167

.200

.250

.333

.350
CEO
CEO
User avatar
Joined: 29 Aug 2007
Posts: 2501
Followers: 53

Kudos [?]: 500 [0], given: 19

GMAT Tests User
Re: Crops [#permalink] New post 07 Nov 2007, 00:17
Hayabusa wrote:
Under frost-free conditions, Cal Cultivators expects its strawberry crop to have a $60,000 market value. An unprotected crop subject to frost has an expected market value of $40,000. If Cal protects the strawberries against frost, then the market value of the crop is still expected to be $60,000 under frost-free conditions and $90,000 if there is a frost. What must be the probability of a frost for Cal to be indifferent to spending $10,000 for frost protection?

.167
.200
.250
.333
.350


x (90,000 - 40,000) + (1-x) (60000 - 60000) = 10000
x = 10000/50000
x = 0.2 or 20%.
Re: Crops   [#permalink] 07 Nov 2007, 00:17
    Similar topics Author Replies Last post
Similar
Topics:
3 Rice is a staple crop in the country of Bhupet, and ... avohden 3 13 Oct 2013, 16:01
4 Believed once to be essential in preventing crop yogirb8801 7 16 May 2013, 23:20
Here can we change the context from crops to crop???? The OA mydreammba 1 10 Jan 2012, 21:01
If there is a drought that ruins the wheat crop of a large pike 10 12 Jul 2011, 18:32
CR:Crop Yields sravan_m444 17 08 Oct 2006, 14:36
Display posts from previous: Sort by

Crops

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.