Answer
$27000$
Work Step by Step
The expected amount can be obtained by summing the product of the possibilities and their probabilities: $EV=\sum xP(x)=50000\cdot0.3+20000\cdot0.6=15000+12000=27000$
Stats: Data and Models (3rd Edition)
by De Vaux, Richard D.; Velleman, Paul D.; Bock, David E.
Published by
Pearson
ISBN 10:
0321692551
ISBN 13:
978-0-32169-255-9
Chapter 16 - Random Variables - Exercises - Page 400: 7
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