Jason is a Web page designer. He estimates that this summer, he ...

[WhattoUnderstand]

Jason is a Web page designer. He estimates that this summer, he has a 0.6 probability of making 10,000 and a 0.4 probability of making only 2,000. What is Jason's expected income this summer?
 
  A) 12,000
  B) 6,800
  C) 6,000
  D) 10,000

Question 2

Oscar and Felix are the only firms that clean offices in a large city. They agree to operate as a cartel. The payoff matrix above gives the economic profit that each firm can make.
 
  If Felix cheats on the agreement but Oscar complies, Felix makes an economic profit of ________ and Oscar makes an economic profit of ________. A) 10 million; 10 million
  B) 1 million; 1 million
  C) -2 million; 12 million
  D) 12 million; -2 million

[Jordin Calloway]

Answer to Question 1

B

Answer to Question 2

D

[WhattoUnderstand]

Thanks for the timely response, appreciate it

[billybob123]

Excellent