A contractor is considering a sale that promises a profit of $24,000 with a probability of 0.7 or a loss (due to bad weather,strikes,and such)of $9,000 with a probability of 0.3.What is the expected profit?
A)$15,000
B)$16,800
C)$23,100
D)$19,500
E)$14,100

Question

Quizplus · Accepted Answer

The Answer of A contractor is considering a sale that promises a profit of $24,000 with a probability of 0.7 or a loss (due to bad weather,strikes,and such)of $9,000 with a probability of 0.3.What is the expected profit?
A)$15,000
B)$16,800
C)$23,100
D)$19,500
E)$14,100

A Contractor Is Considering a Sale That Promises a Profit