Joe Is Contemplating a Job Where, with Probability 0

question 4

Multiple Choice

Joe is contemplating a job where, with probability 0.6, he will make $100,000 and with probability 0.4 he will make $30,000. What is Joe's expected income from taking the job?

• A) $12,000
• B) $60,000
• C) $72,000
• D) $90,000