14. (-/3 Points) DETAILS TANFIN12 8.2.020. MY NOTES PRACTICE ANOTHER ASK YOUR TEACHER The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $170,000 with a probability of 0.6 or a profit of $130,000 with a probability of 0.4; the second project will yield a profit of $220,000 with a probability of 0.6 or a profit of $60,000 with a probability of 0.4. Find the expected profit for each project. first project second project $ $ Which project should the proprietor choose if he wants to maximize his expected profit? O fest project O second project Need Help? 15. (-/5 Points] DETAILS TANFIN12 8.2.022 MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Roger Hunt Wends to purchase one of two car dealerships currently for sale in a certain city. Records obtained from each of the two dealers reveal that their weekly volume of sales, with corresponding probabilities are as follows. Dahl Motors Cars Sold/Week 5 6 7 9 10 12 Probability 0.05 0.09 0.24 0.18 0.14 0.11 0.05 Parthington Auto Sales Cars Sold/Week 5 6 9 10 Probability 0.08 0.21 0.31 0.24 0.10 0.06 The average profit per cart Dahi Motors is 1543, and the average profit per car at Farthington Auto Sales is 1657 (a) Find the average number of cars sold each week at each dealership, DAN cars Farthington cars 0.14 7 (6) Roger's objective is to purchase the dealership that generates the higher weekly profit, which dealership should he purchase? (Compare the expected weekly profit for each dealership.) The expected weekly profit from Dahl Motors is The expected weekly profit from Farthington Auto Sales is $ Therefore, Roger should purchase