Find the Expected Value

question 15

Multiple Choice

Find the expected value.
-Mr.Cameron is sponsoring an summer concert.He estimates that he will make $300,000 if it does not rain and make $60,000 if it does rain.The weather bureau predicts the chance of rain is 0.34 for the day of the concert.An insurance company is willing to insure the concert for $150,000 against rain for a premium of $30,000.If he buys this policy,what are his expected earnings from the concert?

• A)$239,400
• B)$180,000
• C)$300,000
• D)$270,000

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Definitions:

Phospholipids

A type of lipid molecule that is a major component of all cell membranes, providing structural integrity and involved in signaling pathways.

Proteins

Large molecules made up of amino acids that perform a variety of functions in the body, such as catalyzing metabolic reactions and supporting cell structure.

Alleles

Variants of a gene that arise by mutation and are found at the same place on a chromosome.

Heterozygous

Having two different alleles for the same trait.