A businessman has two meetings in a day. The first meeting has a 65% chance to make a sell, and he can get a profit of 15,000 pesos if successful. The second meeting has a 35% chance to make a sell, and he can get a profit of 35,000 pesos if successful. The appointment results are independent of each other. What is the expected profit based on the probability?

A businessman has two meetings in a day. The first meeting has a 65% chance to make a sell, and he can get a profit of 15,000 pesos if successful. The second meeting has a 35% chance to make a sell, and he can get a profit of 35,000 pesos if successful. The appointment results are independent of each other. What is the expected profit based on the probability?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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