228k views
7 votes
A concert venue has determined that they will clear a profit of $6,900 if it does not

rain on the night of a concert. If it does rain on the night of a concert, they will lose
$3,500. On the night of a concert, the chance of rain is 40%. Find the expected
profit/loss for the concert venue. You can ignore the dollar sign.

User Swill
by
6.9k points

1 Answer

1 vote

Answer:

E = .6 * 6900 + .4 * 3500 = 5540 expected profit

User Adjua
by
6.5k points