**Investment Scenario Analysis**An investment counselor calls with a promising stock tip. He estimates that if the economy remains strong, the investment will yield a profit of $30,000. If the economy grows at a moderate pace, the expected profit will be $10,000. In contrast, if the economy enters a recession, the investment will result in a loss of $30,000.Seeking a second opinion, you contact an economist, who assesses the probabilities of the economic outcomes as follows:- A 30% probability that the economy will remain strong.- A 60% probability that the economy will grow at a moderate pace.- A 10% probability that the economy will slip into recession.**Question:** What is the expected profit from this investment?\[ \text{The expected profit is } \$ \boxed{\phantom{00}} \text{. (Type an integer or a decimal.)} \]

Answered: Image /qna-images/answer/2799cf72-39a4-46dc-9321-86f95d7fa887.jpg

Answered: An investment counselor calls with a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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An investment counselor calls with a hot stock tip. He believes that if the economy remains strong, the investment will result in a profit of $40,000. If the economy grows at a moderate pace, the investment will result in a profit of $10,000. However, if the economy goes into recession, the investment will result in a loss of $40,000. You contact an economist who believes there is a 20% probability the economy will remain strong, a 70% probability the economy will grow at a moderate pace, and a 10% probability the economy will slip into recession. What is the expected profit from this investment?
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Hi! I pretty much don't understand this problem that was presented on my Statistics class
Dystopia county has three bridges. In the next year, the Elder bridge has a 10% chance of collapse, the Younger bridge has a 2% chance of collapse, and the Ancient bridge has a 16% chance of collapse. What is the probability that exactly one of these bridges will collapse in the next year? (Round your final answer to four decimal places. Do not round intermediate calculations.)

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