Question
A construction company has been hired to build a custom home. The builder estimates the probabilities of potential profit (or loss) as shown in the
A construction company has been hired to build a custom home. The builder estimates the probabilities of potential profit (or loss) as shown in the table below. What is the profit expectation for the company?
| Profit/Loss | Probability |
|---|---|
| $100,000 | 0.10 |
| $60,000 | 0.45 |
| $30,000 | 0.25 |
| 0 | 0.10 |
| $20,000 | 0.08 |
| $40,000 | 0.02 |
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Discovering Advanced Algebra An Investigative Approach
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
1st edition
1559539844, 978-1604400069, 1604400064, 978-1559539845
