A company plans a major investment and the amount of profit is uncertain, but researchers
give the following estimate for the distribution.
1.5
10

Profit
(in
millions)
Probability

0.1
0.2
0.4
0.2
0.1
What is the expected value of the profit?
[ ? ] million dollars

3 million dollars

Step-by-step explanation:

Given probability distribution table:

Expected Value formula:

where:

Let x = Profit (in millions)

Use the expected value formula to find the expected value:

Therefore, the expected value of the profit is 3 million dollars.

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step-by-step explanation:

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