Multiple Choice
A contractor is considering a sale that promises a profit of $25,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $2000 with a probability of 0.3. What is the expected profit?
A) $23,000
B) $16,900
C) $18,900
D) $17,500
Correct Answer:
Verified
Correct Answer:
Verified
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