Multiple Choice
Solve the problem.
-A contractor is considering a sale that promises a profit of $23,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $13,000 with a probability of 0.3. What is the expected profit?
A) $12,200
B) $25,200
C) $16,100
D) $10,000
Correct Answer:
Verified
Correct Answer:
Verified
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