Neco Model Questions Vol1 2018 Civic Education Question 34

Practice objective / multiple choice question 34 from the 2018 Neco Model Questions Vol1 Civic Education examination.

Neco Model Questions Vol1 2018 Civic Education Objective / Multiple Choice Hard Difficulty

Question 34 NECO_MODEL_QUESTIONS_VOL1 • 2018 • CIVIC_EDUCATION • objective

In public procurement each contract has a \(12\%\) chance of being affected by corruption, causing an average loss of \(\text{₦}2.5\) million per corrupt contract. The government will introduce a monitoring system that reduces the probability of corruption by \(40\%\) and the average loss per corrupt contract by \(25\%\). For 150 contracts, calculate the expected total loss before and after the system, and the percentage reduction in expected loss.

Answer Options

A. 37.5 million, 16.875 million, 55%

B. 45 million, 18.9 million, 53.33%

C. 45 million, 27 million, 40%

Correct Answer D. 45 million, 20.25 million, 55%

Correct Answer

Correct Option:

45 million, 20.25 million, 55%

About This Question

This is Neco Model Questions Vol1 2018 Civic Education Question 34. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Civic Education examination.

Difficulty level: Hard .

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