## Stats: Data and Models (3rd Edition)

Published by Pearson

# Chapter 16 - Random Variables - Exercises - Page 400: 7

#### Answer

$27000$

#### Work Step by Step

The expected amount can be obtained by summing the product of the possibilities and their probabilities: $EV=\sum xP(x)=50000\cdot0.3+20000\cdot0.6=15000+12000=27000$

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.