A businessman has two meetings in a day. The first meeting has a 65% chance to make a sell, and he can get a profit of 15,000 pesos if successful. The second meeting has a 35% chance to make a sell, and he can get a profit of 35,000 pesos if successful. The appointment results are independent of each other. What is the expected profit based on the probability?

A businessman has two meetings in a day. The first meeting has a 65% chance to make a sell, and he can get a profit of 15,000 pesos if successful. The second meeting has a 35% chance to make a sell, and he can get a profit of 35,000 pesos if successful. The appointment results are independent of each other. What is the expected profit based on the probability?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.3: Binomial Probability

Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...

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