A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on the weather according to the following table. Weather Attendance Probability wet, cold 5000 0.2 wet, warm dry, cold dry, warm (a) What is the expected attendance? 30000 0.2 20000 0.2 60000 0.4 answer: (b) If tickets cost $ 30 each, the band will cost $ 150000, plus $ 56000 for administration. What is the expected proft? answer:

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A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on
the weather according to the following table.
Weather Attendance Probability
wet, cold
5000
0.2
wet, warm
dry, cold
dry, warm
(a) What is the expected attendance?
30000
0.2
20000
0.2
60000
0.4
answer:
(b) If tickets cost $ 30 each, the band will cost $ 150000, plus $ 56000 for administration. What is the expected proft?
answer:
Transcribed Image Text:A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on the weather according to the following table. Weather Attendance Probability wet, cold 5000 0.2 wet, warm dry, cold dry, warm (a) What is the expected attendance? 30000 0.2 20000 0.2 60000 0.4 answer: (b) If tickets cost $ 30 each, the band will cost $ 150000, plus $ 56000 for administration. What is the expected proft? answer:
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