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An oil company is considering two sites on which to drill. The sites are described in the following table. Site A: Profit if oil is
An oil company is considering two sites on which to drill. The sites are described in the following table. Site A: Profit if oil is found: $130 million Site B: Profit if oil is found: $195 million Loss if no oil is found: $22 million Loss if no oil is found: $32 million Probability of finding oil: 0.2 Probability of finding oil: 0.1 Question content area bottom Part 1 Which site has the larger expected profit? Select the correct answer below and, if necessary, fill in the answer box to complete your choice. A. Site A has the larger expected profit by $ enter your response here million. (Round to the nearest tenth as needed.) B. Site B has the larger expected profit by $ enter your response here million. (Round to the nearest tenth as needed.) C. The expected profits for both sites are the same
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