4 years ago

A private detective figures that he has a one in ten chance of recovering stolen property for his client...

Mathematics

1 answer:

slamgirl [31]4 years ago

4 0

Answer:

C) The expected value is -$2000, so the detective should not take the job.

Step-by-step explanation:

The expected value is the sum of products of income and probability:

E = -10,000·1.00 + 80,000·0.10 = -10,000 +8,000 = -2,000

The detective can be expected to lose money on the job, so should not take it.

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