A contractor is considering whether he should take on a project that promises a profit of $8800 with a probability of 0.83 or a loss (due to bad weather, strikes, etc.) of $2900 with a probability of 0.17. What is the expected profit for the contractor

6811

Step-by-step explanation:

in this problem the values are 8800 and -2900 and the respective probabilities are 0.83 and 0.17

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so the expected profit o# sum = (x*P(x))=8800*(0.83)+(-2900)*(0.17)=6811

robert puts 2 in each row

example 2 – simplify: step 1: completely factor both the numerators and denominators of all fractions. step 2: change the division sign to a multiplication sign and flip (or reciprocate) the fraction after the division sign; essential you need to multiply by the reciprocal. step 3 : cancel or reduce the fractions.