Question: Suppose that A is a random variable equal to profits from a hotdog stand at the beach, and D has the following probability distribution: $80,000
Suppose that A is a random variable equal to profits from a hotdog stand at the beach, and D has the following probability distribution:
$80,000 with a probability of 0.05
$60,000 with a probability of 0.25
A = $40,000 with a probability of 0.35
$12,000 with a probability of 0.20
-$12,000 with a probability of 0.15
What is the expected value of profits? Please show all work
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