# Math Help - probabilty ang statistic

1. ## probabilty ang statistic

A ski resort loses 70,000 dollars per season when it does not snow very much and makes 250,000 dollars profit when it does snow a lot.The probabilty at least 75 inches(a good season) is 14%.Find the expectation for the profit?

2. Originally Posted by alderon
A ski resort loses 70,000 dollars per season when it does not snow very much and makes 250,000 dollars profit when it does snow a lot.The probabilty at least 75 inches(a good season) is 14%.Find the expectation for the profit?
As before the expectation is the sum over possible return of the return times the probability of the return.

So we have:

$
E(profit) = 250000 \times 0.14 - 70000 \times (1-0.14)
$

RonL