company's expected profit? (don't put $) S.

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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makes electronic gadgets. One out of every 50 gadgets is faulty, but the
doesn't know which ones are faulty until a buyer complains. Suppose the
makes a $3 profit on the sale of any working gadget, but suffers a loss of
$80 for every faulty gadget because they have to repair the unit. What is the
A
company
company
company
company's expected profit? (don't put $)
Transcribed Image Text:makes electronic gadgets. One out of every 50 gadgets is faulty, but the doesn't know which ones are faulty until a buyer complains. Suppose the makes a $3 profit on the sale of any working gadget, but suffers a loss of $80 for every faulty gadget because they have to repair the unit. What is the A company company company company's expected profit? (don't put $)
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