Answer
8100 dollars
Work Step by Step
There is a 0.7 chance of making 15000, and a 0.3 chance of losing 800,
so the expected profit=$0.7\times15000-0.3\times8000=8100$
Elementary Statistics: A Step-by-Step Approach with Formula Card 9th Edition
by Bluman, Allan
Published by
McGraw-Hill Education
ISBN 10:
0078136334
ISBN 13:
978-0-07813-633-7
Chapter 5 - Discrete Probability Distributions - Review Exercises - Section 5-2 - Page 305: 12
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