A Contractor Is Considering a Sale That Promises a Profit

question 100

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

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Seriousness of Crime

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