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PaulKet PaulKet
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Posts: 488
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6 years ago
Lisa runs a local flower shop. If it rains on Valentine's Day and she opens the shop, she will lose $200. If it does not rain on Valentine's Day, she will earn $500 dollars as profits. What is Lisa's expected profit on Valentine's Day if she only knows that there is a 30% chance of rain that day?
A) $350
B) $290
C) $200
D) $150
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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unExpectedunExpected
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6 years ago
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PaulKet Author
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6 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
sudenzia
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Yesterday
You make an excellent tutor!
Kstan109
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2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
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