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secondary 4 | E Maths
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Chelsia
Chelsia

secondary 4 chevron_right E Maths chevron_right Singapore

pls help

Date Posted: 6 days ago
Views: 12
Eric Nicholas K
Eric Nicholas K
5 days ago
I believe it goes like this.

Probability of rain: 0.3 (no money collected)
Probability of no rain: 0.7 ($15 000 collected)

Expected value for money collected (dollars)
= 0.3 x 0 + 0.7 x 15000
= 10 500

Expected profit (dollars)
= 10 500 - 8 000
= 2 500