Chapter 4: Problem 6 Previous Problem Problem List Next Problem (1 point) 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 4000 0.1 wet, warm 25000 0.1 dry, cold 30000 0.1 dry, warm 60000 0.7 (a) What is the expected attendance? answer: (b) If tickets cost $ 25 each, the band will cost $ 300000, plus $ 60000 for administration. What is the expected profit