A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on the weather according to the following table.

Weather Attendance Probability

wet, cold 6000 0.2

wet, warm 30000 0.2

dry, cold 25000 0.2

dry, warm 45000 0.4

b)

If tickets cost $ 20 each, the band will cost $ 250000, plus $ 45000 for administration. What is the expected profit?