Question

HELP PLZ

The PTA plans a spring carnival on a Saturday in April. If it's a sunny day, they estimate

that they will make $3,000, but if it rains, they will lose $600 because nobody will come.

There's a 30% chance of rain on Saturday. Create a probability model.

Answer 1

The probability model is

= P(A or B)

Explanation:

a) Data and Calculations:

Estimated revenue if the day is sunny = $3,000

Estimated loss if the day is rainy = $600

The probability of rain = 30%

Therefore, the probability of sunshine = 70% (100 - 30)

The probability model is based on the probability of rain or sunshine

= P(A or B)

= A*70% - B*30%

The outcome from either rain or sunshine

= ($3,000 * 70%) -($600 * 30%)

= $2,100 - $180

= $1,920