If an Individual Has a 0

question 233

Multiple Choice

If an individual has a 0.3 probability of receiving $10 and a 0.7 probability of receiving $20, the expected income is

• A) $20.
• B) $7.
• C) $14.
• D) $17.

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Definitions:

Spontaneous

Occurring without apparent external cause, prompt, or planning.

Technology

The use of scientific understanding for real-world applications, particularly in the fields of industry and daily activities.

Flash Mob

A large group of people who assemble suddenly in a public place, perform an unusual act for a brief time, then quickly disperse, often organized via telecommunications or social media.

Conglomeration

The process or result of forming a large company or group of companies by merging multiple small ones, often across various industries.