There is an athletic organization named Jingle Jangle plans to invest P1,000,000 to host soccer game. They expect to sell tickets worth P1,500,000 .However, if it rains on the day of game, they won't sell any tickets and the organization will lose all the money invested. Will you consider this a good investment, if the weather forecast on the day of game is 20 percent possibility of rain? What is the expected value of this investment?

Answer rating: 100% (QA)

To determine if this is a good investment we can calculate the expected value of the investment Expe... View the full answer