Find the expected value.A contractor is considering a sale that promises a profit of $23,000 with a probability of .7 or a loss (due to bad weather, strikes, and such) of $12,000 with a probability of .3. What is the expected profit?

A. $24,500
B. $11,000
C. $16,100
D. $12,500


Answer: D

Mathematics

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A.
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C.
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