The Triple L investment club is considering purchasing a certain stock. After considerable research, the club members o $9,000, a 20% chance of breaking even, and a 30% chance of losing $7,500. Find the expectation of this purchase. The ox octod value is

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 35T
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The Triple L investment club is considering purchasing a certain stock. After considerable research, the club members determine that there is a 50% chance of making
$9,000, a 20% chance of breaking even, and a 30% chance of losing $7,500. Find the expectation of this purchase.
The expected value is $
Transcribed Image Text:The Triple L investment club is considering purchasing a certain stock. After considerable research, the club members determine that there is a 50% chance of making $9,000, a 20% chance of breaking even, and a 30% chance of losing $7,500. Find the expectation of this purchase. The expected value is $
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