Question

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Paul is planning a carnival. He figured there’s a 30% chances of good weather which will give him a profit of $260,000. However, there’s 70% chances of bad weather that can result in a loss of $105,000. What is Paul expected profit from the carnival?

In a 2010 survey, it is estimated that 78% of moms post on Facebook. Estimated that Dads post 50% on Facebook. Find the probability when 30 moms are selected... at least 26 of them post on Facebook.

Answer 1

E(profit) = P(good weather) *profit-P(bad weather) *loss

=0.3*260000-0.7*105000 = $4500

Chegg asks us to do the first answer when multiple questions are posted Please post the rest separately