Job Bids A landscape contractor bids on jobs where he can

Chapter 5, Problem 12E

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QUESTION:

Problem 12E

Job Bids A landscape contractor bids on jobs where he can make $3000 profit. The probabilities of getting 1, 2, 3, or 4 jobs per month are shown.

Number of jobs

1

2

3

4

Probability

0.2

0.3

0.4

0.1

Find the contractor’s expected profit per month.

Questions & Answers

QUESTION:

Problem 12E

Job Bids A landscape contractor bids on jobs where he can make $3000 profit. The probabilities of getting 1, 2, 3, or 4 jobs per month are shown.

Number of jobs

1

2

3

4

Probability

0.2

0.3

0.4

0.1

Find the contractor’s expected profit per month.

ANSWER:

Solution

Step 1 of 1

We have to find the contractor's expected profit per month

Given that the profit per each job is 3,000$

No.of jobs (X)

1

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