Find the expected value.Mr. Cameron is sponsoring an summer concert. He estimates that he will make $300,000 if it does not rain and make $60,000 if it does rain. The weather bureau predicts the chance of rain is 0.34 for the day of the concert. An insurance company is willing to insure the concert for $150,000 against rain for a premium of $30,000. If he buys this policy, what are his expected earnings from the concert?
A. $180,000
B. $300,000
C. $270,000
D. $239,400
Answer: D
You might also like to view...
Expand and simplify the given expression by use of the binomial formula.(x2 + 4)4
A. x8 + 16x6 - 96x4 + 256x2 - 256 B. x6 + 16x5 + 96x4 + 256x2 + 256 C. x8 + 16x6 + 96x4 + 256x2 + 256 D. x8 + 12x6 + 96x4 + 192x2 + 256
Solve the problem.The profit that the vendor makes per day by selling x pretzels is given by the function Find the number of pretzels that must be sold to maximize profit.
A. 400 pretzels B. 20 pretzels C. 0.8 pretzels D. 800 pretzels
Provide an appropriate response.Rationalize the denominator and simplify:
Fill in the blank(s) with the appropriate word(s).
Factor the expression completely, if possible.x4 - 729x
A. (x2 - 9)(x2 + 81) B. x(x - 9)(x2 + 9x + 81) C. x(x + 9)(x2 - 9x + 81) D. Does not factor