9. Why is goal setting important in life? (Essay question worth 4 points.
Use a minimum of 50 words for your answer. Use the back of this sheet
if you need more space.

Goal setting is important because it allows someone to know what they want to achieve, facilitates the action of achieving that particular goal and helps you to focus on the task. By goal setting, someone will know what they want to achieve and will be encouraged to try to attain Their goal.

Option (b) is correct.

Explanation:

Economics:

Probability of placing it with a major publisher(pm) = 0.5 for selling(sm) = 40,000 copies

Probability of placing it with a smaller publisher(ps) = 0.8 for selling(ss) = 30,000 copies

Therefore,

Expected value (Economics) = pm × sm + pm(ps × ss)

                                               = 0.5 × 40,000 + 0.5(0.8 × 30,000)

                                               = 32,000 copies