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Vsevolod [243]
3 years ago
11

A man buys a racehorse for ​$20 comma 00020,000 and enters it in two races. He plans to sell the horse​ afterward, hoping to mak

e a profit. If the horse wins both​ races, its value will jump to ​$70 comma 00070,000. If it wins one of the​ races, it will be worth ​$45 comma 00045,000. If it loses both​ races, it will be worth only ​$10 comma 00010,000. The man believes there is a 3030​% chance that the horse will win the first race and a 3535​% chance that it will win the second one. Assuming that the two races are independent​ events, find the​ man's expected profit.
Business
1 answer:
Step2247 [10]3 years ago
7 0

Answer:

<h2>A man buys a racehorse for $20,000 and enters it in two races. He plans to sell the horse afterward, hoping to make a profit. If the horse wins both races, its value will jump to $100,000. If it wins one of the races, it will be worth <em>$50,000.</em></h2>

Explanation:

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Explanation:

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\int^{550}_{500}\ C'(x)\ dx\\\\=\int^{550}_{500} (4000-0.4x)\ dx\\\\=[4000x-\dfrac{0.4x^2}{2}]^{550}_{500}\\\\=[4000(550)-\dfrac{0.4(550)^2}{2}-4000(500)+\dfrac{0.4(500)^2}{2}]\\\\=[2200000-60500-2000000+50000]\\\\=189,500

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