Author Question: Find the expected value.A contractor is considering a sale that promises a profit of $39,000 with a ... (Read 45 times)

SO00 · **on:** Jan 18, 2020

Question 1

Find the expected value.

In a game, you have a

probability of winning

and a

probability of losing

What is your expected value?
◦ $12.64
◦ -$8.59
◦ $4.05
◦ -$4.55

Question 2

Find the expected value.

A contractor is considering a sale that promises a profit of $39,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $3000 with a probability of 0.3. What is the expected profit?
◦ $29,400
◦ $36,000
◦ $26,400
◦ $27,300

amy.lauersdorf90 · **Reply #1 on:** Jan 18, 2020

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