Suppose it costs ($ 2,400) to advertise and list a ($ 350,000) house for sale. The listing
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Suppose it costs \(\$ 2,400\) to advertise and list a \(\$ 350,000\) house for sale. The listing agent will earn \(5 \%\) of the selling price if the listing agent sells the property, but only \(2.5 \%\) if the house is sold by another agent. If the house is unsold after 4 months, the listing (and the cost of advertising) will be lost. Suppose that the probabilities for selling the house are as follows:
What is the expected profit from listing a \(\$ 185,000\) house?
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Mehwish Aziz
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