A local radio station is staging a concert; it isn’t sure what music the band will play or how big the crowd will be. The table below shows the estimated profit from sales (in thousands of dollars) to the station depending on audience size and the type of music played (for example, if a “small” audience and classic rock, they will make $100K).What is the probability that the audience size is not moderate? Which type of music gives the station the greatest chance of making $250K or greater from the concert? The image contains a table detailing the potential earnings from music performances depending on the type of music and the audience size. It also includes the probability of each type of music and size occurring.**Table Breakdown:**- **Columns:** - Audience Size: Small, Moderate, Large - Probability of music types and audience sizes.- **Rows:** - **Type of Music:** - Classic Rock: - Small: $100 - Moderate: $200 - Large: $300 - Country: - Small: $50 - Moderate: $250 - Large: $400 - Hip Hop: - Small: $30 - Moderate: $150 - Large: $500 - **Probability of Type of Music:** - Classic Rock: 0.2 - Country: 0.3 - Hip Hop: 0.5 - **Probability of Audience Size:** - Small: 0.3 - Moderate: 0.4 - Large: 0.3**Explanation:**This table presents data that can be used to calculate expected earnings from music performances by considering the type of music and audience size. Each cell in the table represents potential earnings for a specific combination of music type and audience size. The probabilities provided help in calculating expected values by considering the likelihood of each scenario.

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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A local radio station is staging a concert; it isn’t sure what music the band will play or how big the crowd will be. The table below shows the estimated profit from sales (in thousands of dollars) to the station depending on audience size and the type of music played (for example, if a “small” audience and classic rock, they will make $100K).

What is the probability that the audience size is not moderate?

Which type of music gives the station the greatest chance of making $250K or greater from the concert?

The image contains a table detailing the potential earnings from music performances depending on the type of music and the audience size. It also includes the probability of each type of music and size occurring.

**Table Breakdown:**

- **Columns:**
- Audience Size: Small, Moderate, Large
- Probability of music types and audience sizes.

- **Rows:**
- **Type of Music:**
- Classic Rock:
- Small: $100
- Moderate: $200
- Large: $300
- Country:
- Small: $50
- Moderate: $250
- Large: $400
- Hip Hop:
- Small: $30
- Moderate: $150
- Large: $500
- **Probability of Type of Music:**
- Classic Rock: 0.2
- Country: 0.3
- Hip Hop: 0.5
- **Probability of Audience Size:**
- Small: 0.3
- Moderate: 0.4
- Large: 0.3

**Explanation:**

This table presents data that can be used to calculate expected earnings from music performances by considering the type of music and audience size. Each cell in the table represents potential earnings for a specific combination of music type and audience size. The probabilities provided help in calculating expected values by considering the likelihood of each scenario.

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