Asked by Valerie

A contractor is considering a sale that promises a profit of $30,000 with a probability of .7 or a loss of $4,000 with a probability of .3. What is the expected profit?

Answers

Answered by MathMate
The weighted profit is
(30000*0.7+4000*0.3)/(0.7+0.3)=?
There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions