What is the expected profit sale to promise a profit

Assignment Help Basic Statistics

Reference no: EM13143672

A contractor is considering a sale that promises a profit of $37,000 with a probability of 0.7 or a loss of (due to bad weather and such) of $18,000 with a probability of 0.3. What is the expected profit?

Reference no: EM13143672

Questions Cloud

How do language, culture, and history shape the way : How do language, culture, and history shape the way we think, feel, and view the world?

Find probability advertising firm has income after tax : A study of 200 advertising firms revealed their income after taxes: What is the probability an advertising firm selected at random has under $1 million in income after taxes?

Cross-cultural approach : What is the cross-cultural approach to research?2. What is the multicultural approach to research?

How do diatoms with their glasslike valves avoid : Diatoms are mostly asexual members of the phytoplankton. Diatoms lack any organelles that might have the 9+2 pattern. They obtain their nutrition from functional chloroplasts, and each diatom is encased within two porous, glasslike valves.

What is the expected profit sale to promise a profit : A contractor is considering a sale that promises a profit of $37,000 with a probability of 0.7 or a loss of (due to bad weather and such) of $18,000 with a probability of 0.3. What is the expected profit?

Net periodic pension cost reported in the income statement : The net periodic pension cost reported in the income statement for 2011 would be

Consider the meaning of the term ecology : Consider the meaning of the term "ecology." How do the ideas of energy and chemical cycles, community structure, biodiversity and succession fit together to form the basis of the way the natural world works?

Self-actualization. : In your own words, (a) give an overview of humanistic psychology's theory of personality (6 points). Also in your own words (b) describe and explain the humanistic terms self-concept, congruence, unconditional positive regard, and self-actualization.

Calculate test statistic for testing the null hypothesis : Calculate the test statistic for testing the null hypothesis. The slass mean will be not be signfically different from the population mean. What is your decision about the null hypothesis?"

User Account

All Pages