Question Below: Please Check my Answer ($50,500)?

3 ⤊

Question Below: Please Check my Answer ($50,500)?

A farmer loses $70,000 when the summer is too dry and makes $110,000 when the growing season is moderate. The probability of the growing season being too dry is 35%. What is the expectation for profit?

a. $44,000

b. $47,000

c. $47,500

d. $50,500

e. $53,500

f. $54,000

or none of these

2007-04-28 09:35:34 · 3 answers · asked by Olivia 4 in Science & Mathematics ➔ Mathematics

3 answers

Well thats easy: in 65% he makes $ 110,000, in 35 % he loses $ 70,000
So we get a total expectation of $ 110,000*0,65 -$70,000*0,35 = $ 47,000.

So its b)

2007-04-28 09:42:21 · answer #1 · answered by Anonymous · 1⤊ 0⤋

(b) Expectation = 0.65(110000)-0.35(70000)

2007-04-28 09:47:26 · answer #2 · answered by cattbarf 7 · 1⤊ 0⤋

it's b

2007-04-28 10:08:56 · answer #3 · answered by falling_star3425 2 · 1⤊ 0⤋