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

hey! so 1 (25) out of 4 (100) is 25 so your answer is 25%. it's like quarters!