Air Asia has a 1,500-seat standing hall and is considering inviting a K-pop group to give a one-night concert. The fee charged by Super Junior will be $300,000. If the Air Asia draws the crowd, the money can be paid regardless of the number of people attending the concert.

Based on past experience with such events, concert tickets are priced at $350 per person. The number of spectators for this event is uncertain, but based on past experience, it is estimated that there is a 50% chance of 500 audiences; There's a 30% chance of 1,000 audiences and a 20% chance of 1,500 audiences.

In addition to selling concert tickets, audiences can also buy candy before and during the interval. The contribution to Air Asia is unclear, but it is estimated as follows:

confectionery sales' probability contribution:

Contribution of $18.50/person (50% Probability)

Contribution of $30/person (30% Probability)

Contribution of $60/person (20% Probability)

Question 1

Calculate the profit result of each result that might be generated by inviting Super Junior to the concert, and round the answer to the nearest RM.

1. 500 Audiences (Contribution of RM18 per person, Contribution of RM30 per person, Contribution of RM60 per person)

2. 1,000 Audiences (Contribution of RM18 per person, Contribution of RM30 per person, Contribution of RM60 per person)

3. 1,500 Audiences (Contribution of RM18 per person, Contribution of RM30 per person, Contribution of RM60 per person)

Question 2

The expected value for 500 audiences, 1,000 audiences and 1,500 audiences.

Answer rating: 100% (QA)

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