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A Car Wash Loses $30 on Rainy Days and Makes

question 84

Essay

A car wash loses $30 on rainy days and makes $120 on days when is does not rain.If the probability of rain is 0.15,calculate the car wash's expected profit.


Definitions:

Expected Gain

The anticipated value or return from an investment, calculated by assessing probable outcomes and their probabilities.

Revenue

The income that a business receives from its normal business activities, usually from the sale of goods and services to customers.

Complicated Technology

Technological systems or products that are complex in nature and may require specialized knowledge to use or understand.

Launch

The introduction of a new product or service to the market.

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