Mathematics, 10.07.2019 03:20, leilei2003

Suppose that p is a random variable equal to profits from an ice cream stand at the beach and that p has the following probability distributions:
$70,000 with probability 0.05
$50,000 with probability 0.25
$30,000 with probability 0.35
$10,000 with probability 0.20
$10,000 with probability 0.15
what is the expected value of profits?

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Suppose that p is a random variable equal to profits from an ice cream stand at the beach and that p...