Question: A contractor is considering a job that will yield a $20,000 profit 65% of the time. The other 35% of the time, he will experience
A contractor is considering a job that will yield a $20,000 profit 65% of the time. The other 35% of the time, he will experience a $15,000 loss due to bad weather, strikes, and other unforeseen circumstances. What is the contractor's overall expected profit or loss? Fill out the table below to determine the Expected Value.
| Event | Probability | Gain/Loss |
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