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A salesperson for a medical device company has two appointments on a given day. At the first appointment, he believes that he has a 70% chance to make the deal, from which he can earn $1000 commission if successful. On the other hand, he thinks he only has a 40% chance to make the deal at the second appointment, from which, if successful, he can make S1500. What is his expected commission based on his own probability belief? Assume that the appointment results are independent of each other. A $1900 B $1100 c $1300 D $1500

A salesperson for a medical device company has two appointments on a given day. At the first appointment, he believes that he has a 70% chance to make the deal, from which he can earn $1000 commission if successful. On the other hand, he thinks he only has a 40% chance to make the deal at the second appointment, from which, if successful, he can make S1500. What is his expected commission based on his own probability belief? Assume that the appointment results are independent of each other. A $1900 B $1100 c $1300 D $1500

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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A salesperson for a medical device company has two appointments on a given day. At the first appointment, he believes that he has a 70% chance to make the deal, from which he can earn $1000 commission if successful. On the other hand, he thinks he only has a 40% chance to make the deal at the second appointment, from which, if successful, he can make $1500. What is his expected commission based on his own probability belief? Assume that the appointment results are independent of each other. A $1900 $1100 $1300 $1500
Transcribed Image Text:A salesperson for a medical device company has two appointments on a given day. At the first appointment, he believes that he has a 70% chance to make the deal, from which he can earn $1000 commission if successful. On the other hand, he thinks he only has a 40% chance to make the deal at the second appointment, from which, if successful, he can make $1500. What is his expected commission based on his own probability belief? Assume that the appointment results are independent of each other. A $1900 $1100 $1300 $1500
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