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?
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.