Question

A ball club makes $450,000 when it does not rain. It also loses $250,000 when there is a rain out. If the
probability of it raining is.32, find the expectation of profit?

$226,000
$216,000
$236,000
$256,000

Answer 1

Answer:

E = 450000 x (1 - 0.32) + (-250000) x 0.32 = 226000

Hope this helps!

:)