Liqin Fixes Up Old Cars and Sells Them to Supplement

question 16

Multiple Choice

Liqin fixes up old cars and sells them to supplement his retirement income. Liqin came across a beat-up 1955 Corvette that she is considering rebuilding and selling. She estimates a 0.2 probability that she will gain 15% on the deal, a 0.2 probability that she will gain 10%, and a 0.6 probability that she will gain 5%. Liqin's expected return for fixing up and selling the Corvette is ____%.

• A) 8
• B) 11
• C) 20
• D) 30

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Definitions:

Damaged Ecosystem

An ecosystem that has been harmed or altered by environmental stresses, human activities, or natural disasters, leading to reduced biodiversity and ecological function.

Breeding Programs

Structured plans designed to manage the reproduction of organisms to achieve specific genetic and population goals.

Renewable Resources

Resources that can be replenished naturally over time, such as solar energy, wind, and biomass.

Nonrenewable Resources

Natural resources that cannot be replenished or replaced within a human lifespan, such as fossil fuels and minerals.