You have chosen biology as your college major because you would like to be a medical doctor. However, you find that the probability of being accepted to medical school is about $10$ percent. If you are accepted to medical school, then your starting salary when you graduate will be $$370,000$ per year. However, if you are not accepted, then you would choose to work in a zoo, where you will earn $$50,000$ per year. Without considering the additional years you would spend in school if you study medicine or the time value of money.

$($a$1)$

What is your expected starting salary?

Expected starting salary