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

Mathematics

You might also like to view...

Solve the problem.Suppose c(x) = x3 - 20x2 + 20,000x is the cost of manufacturing x items. Find a production level that will minimize the average cost of making x items.

A. 11 items B. 10 items C. 9 items D. 12 items

Mathematics

Assess the stability of the equilibrium points of the nonlinear system x? = x2 + y2 ? 32 and y? = x ? y

What will be an ideal response?

Mathematics

Combine. Assume that all variables represent non-negative real numbers.11  - 2x

A. 11 - 2x
B. 9x
C. 13
D. 9x

Mathematics

Perform the indicated operation and reduce to lowest terms. + 

A.
B.
C.
D.

Mathematics