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Find the Expected Value

Question 63

Multiple Choice

Find the expected value.
-Mr.Cameron is sponsoring an summer concert.He estimates that he will make $300,000 if it does not rain and make $60,000 if it does rain.The weather bureau predicts the chance of rain is 0.34 for the day of the concert.What are Mr.Cameron's expected concert earning?


A) $360,000
B) $60,000
C) $300,000
D) $218,400

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