Answer:
730
Step-by-step explanation:
X=-30 that's the right answer
Answer:
im pretty sure the answer is (k-w)/v = x
Answer:
The value of the expected profit from the concert is 8,910
Step-by-step explanation:
Profit on a clear day X₁ = 36,000 with 13% probability.
i.e X₁ = 36000
P(X₁) = 0.13
Profit on a cloudy day = 17,000 with 39% probability.
i.e X₂ = 17000
P(X₂) = 0.39
else,
loss of 5,000 if it rains with the probability of 48%.
i.e X₃ = 5000
P(X₃) = 0.48
The value of the expected profit from the concert is obtained as follows
Expected Value = (36,000*0.13) + (17,000*0.39) - (5,000*0.48)
= 4,680 + 6,630 - 2,400
= 8,910
