Dana wants to try working as an independent contractor this summer. She has a 50 percent chance that she will make $10,000 and 50 percent chance that she will make nothing. What's Dana's expected income from taking this job?
A) $10,000
B) $7,000
C) $5,000
D) zero

Question

Quizplus · Accepted Answer

The expected income is calculated by multiplying each outcome by its probability and summing the results: (0.5 * $10,000) + (0.5 * $0) = $5,000.

Dana Wants to Try Working as an Independent Contractor This