What is jeff expected earnings from the concert

Reference no: EM13185983

Jeff is producing an outdoor concert. He estimates that he will make 3200 dollars if it does not rain, and make 1000 dollars if it does rain. The local weather station (which we'll assume is accurate in giving forecasts) predicts that the chance of rain is 25 percent for the day of the concert. What is Jeff's expected earnings from the concert?

Reference no: EM13185983

Questions Cloud

Determine the the appropriate discount rate : Jethro has been promised a payment of $1000, which is to be paid exactly 8 years from now. He is completely certain that the payment will in fact be made. Jethro believes that the appropriate discount rate is 5% per year, and that this will contin..

Explain forensic scientists in analyzing crime scenes : The chemical 5-amino-2,3-dihydro-1,4-phthalazinedione, better known as luminol, is used by forensic scientists in analyzing crime scenes for the presence of washed-away blood.

Find the length of the wall of the classroom : the aera of a rectangular wall in a classroom is 126 square feet. it lenght is 3 feet shorter than three times its width. find the length of the wall of the classroom.

What is the maximum probability of failure : Your insurance stipulates at least one system must be working 9989 times out of 10000. In order to achieve that level with two independent systems, what is the maximum probability of failure allowed for a single system?

What is jeff expected earnings from the concert : The local weather station (which we'll assume is accurate in giving forecasts) predicts that the chance of rain is 25 percent for the day of the concert. What is Jeff's expected earnings from the concert?

Define the haber-bosch process : The Haber-Bosch process is a very important industrial process. In the Haber-Bosch process, hydrogen gas reacts with nitrogen gas to produce ammonia according to the equation 3H2(g)+N2(g)--->2NH3(g)

What are the expected winnings far a ticket buyer : what are the expected winnings far a ticket buyer? Express to at least three decimal place accuracy in dollar form (as opposed to cents).

How to increase sales taxes to bring in badly needed revenue : Governor Brown, from the state of Taxafornia, wants to increase sales taxes to bring in badly needed revenue to support state operations. He is looking at taxing various goods and services. Will the state tax revenue be great..

Compute the ionization energy : Using the thermodynamic data below, and a value of -717 kJ/mol for the Ulattice enthalpy for KCl, calculate the ionization energy of K. Hint: Remember to plug in numbers to the equation given in course content.

User Account

All Pages