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MrsAngelD MrsAngelD
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6 years ago
On any given day, a salesman can earn $0 with a 40% probability, $100 with a 40% probability, or $300 with a 20% probability. His expected earnings equal
A) $0.
B) $100 because that is the most likely outcome.
C) $100 because that is what he will earn on average.
D) $200 because that is what he will earn on average.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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SaHiN22SaHiN22
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#1
Posts: 246
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6 years ago
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MrsAngelD Author
wrote...

6 years ago
this is exactly what I needed
megan.xo
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Yesterday
Correct Slight Smile TY
Jose^2
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2 hours ago
Smart ... Thanks!
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