The firm wins one-third of the cases that go to trial if

Reference no: EM13642291

A law firm takes cases on a contingent fee basis. If the case goes to trial, the firm expects to earn $25,000 as part of the settlement if it wins and nothing if it does not. The firm wins one-third of the cases that go to trial. If the case does not go to trial, the firm earns nothing. Half of the cases do not go to trial. What is the probability distribution of this firms earnings?

Reference no: EM13642291

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