QUESTION 4 Your store profit for the coming year is a random variable X. You estimate the following outcomes for this random variable together with the associated probabilities. X 271243 127985 0.2 -54288 0.5 P(X) 0.3 Calculate the expected profit. Round the answer to two decimal places.
QUESTION 4 Your store profit for the coming year is a random variable X. You estimate the following outcomes for this random variable together with the associated probabilities. X 271243 127985 0.2 -54288 0.5 P(X) 0.3 Calculate the expected profit. Round the answer to two decimal places.
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
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Transcribed Image Text:QUESTION 4
Your store profit for the coming year is a random variable X. You estimate the following outcomes for this random variable together with the associated probabilities.
X
271243
127985
0.2
-54288
0.5
P(X)
0.3
Calculate the expected profit. Round the answer to two decimal places.
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