Multiple Choice
Provide an appropriate response.
-A contractor is considering a sale that promises a profit of $26,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $8000 with a probability of 0.3. What is the expected profit?
A) $23,800
B) $18,200
C) $18,000
D) $15,800
Correct Answer:
Verified
Correct Answer:
Verified
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