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April 24, 2014

Homework Help: math

Posted by A on Tuesday, October 30, 2012 at 3:17pm.

a contractor is considering a sale that promises a profit of $20,000 with a probability of 0.7 or a loss (due to bad weather, strikes, and such) of $10,000 with a probability of 0.3. What is the expected profit?

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