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...
Provide an appropriate response.The most recently purchased goods are assumed to be sold first with the FIFO method.
A. True B. False
Solve the equation.log6(x + 2) = 2
A. {62} B. {38} C. {66} D. {34}
Decide whether the relation is a function, and give the domain and range.
A. Function; domain: (-?, ?); range: [3, ?) B. Function; domain: [3, ?); range: (-?, ?) C. Not a function; domain: (-?, ?); range: [3, ?) D. Not a function; domain: [3, ?); range: (-?, ?)
Solve.The value of a particular investment follows a pattern of exponential growth. In the year 2000, you invested money in a money market account. The value of your investment t years after 2000 is given by the exponential growth model 
When will the account be worth $6639?
A. 2011 B. 2008 C. 2010 D. 2009