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

---

Definitions:

Specific Brand

A unique design, symbol, or name that identifies and distinguishes a product or service from others in the market.

Product Service

A product service is a combination of goods and services provided to consumers, often enhancing the value of a physical product through additional support or amenities.

Lagged Effect

A delayed response to an action or event, wherein the full impact is not immediately observable and unfolds over time.

Imc Efforts

Integrated Marketing Communications efforts, which aim to ensure that all forms of communications and messages are carefully linked together to create a seamless customer experience.