Neco Model Questions Vol1 2020 Civic Education Question 44
Practice objective / multiple choice question 44 from the 2020 Neco Model Questions Vol1 Civic Education examination.
In a public procurement process, a corrupt official can embezzle a fixed amount of \(\text{₦}5\) million per contract. The probability of being caught for each contract is \(0.08\), and if caught the official must pay a fine equal to three times the embezzled amount and also loses future earning potential worth \(\text{₦}12\) million. The official is considering submitting \(4\) independent contracts. Assuming independence, calculate the expected net gain (in millions of naira) from the corruption scheme and state whether the expected gain is positive.
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About This Question
This is Neco Model Questions Vol1 2020 Civic Education Question 44. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Civic Education examination.
Difficulty level: Hard .
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