Find the Expected Value

question 63

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.What are Mr.Cameron's expected concert earning?

• A)$360,000
• B)$60,000
• C)$300,000
• D)$218,400

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