A rock concert producer has scheduled an outdoor concert. The outside temperature is either warm, cool, or very cold. If it is warm that day, she expects to make a $20,000 profit. If it is cool that day, she expects to make a $5,000 profit. If it is very cold that day, she expects to suffer a $12,000 loss. Based upon historical records, the weather office has estimated the chances of a warm day to be 60%; the chances of a cool day to be 25%. What is the producers expected profit? Choose the answer closest to your calculations.

Simple average of: $20,000, $5,000, and -$12,000

$15,500

This question cannot be answered because the probability information isn't complete

$11,450

$14,500