Question
Salman is planning o set up a booth at the weekend market.From past experience , he has learned that sales at the market fluctuate with
Salman is planning o set up a booth at the weekend market.From past experience , he has learned that sales at the market fluctuate with both the weather and the advertising he purchases in the local newspaper.For the coming weekend, if he purchases advertising , he can expect to make a profit of $8,000 on goods sold(9000 less 1,000 in advertising), if the weather is good, however , if the weather is bad he will only make a profit of $3,000 .if he doesn't purchase advertising , he can expect to sell 40% less.For the coming weekend , there is a 75% chance of good weather.
Calculate the expected profit for the coming weekend if Salman does not advertise.
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