Question
Asked by:
$0.75 probability 8-43
- From Mathematics: Probability , Mathematics: Combinatorics
- Closed, but you can still post tutorials
- Due on May. 17, 2009
- Asked on May 14, 2009 at 1:59:44PM
Q:A developer can buy a piece of property
that will produce a profit of $16,000 with probability
.7, or a loss of $9000 with probability .3. What is the
expected profit?
ANSWER:
$8500
