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Job Bids A landscape contractor bids on jobs where he can
Chapter 5, Problem 12E(choose chapter or problem)
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: