Suppose that an antique jewelry dealer is interested in purchasing a gold necklace for which the probabilities

Question:

Suppose that an antique jewelry is interested in purchasing a gold necklace for which the probabilities are 0.22, 0.36, 0.28, and 0.14 respectively, that she will be able to sell it, for a profit of $250, sell it for a profit of $150, break even, or sell it for a loss of $150. What is her expected profit?
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...