contestada

Lucas owns a car dealership in Brazil that is having a big sale for the next 3 days. Lucas's car dealership will
lose revenue if it rains because potential customers will stay at home. There is a 50% chance of rain each
of the next 3 days independent of the other days. The table below shows Lucas's potential revenue for his dealership's big sale depending on how many days it rains. What is Lucas's car dealerships' expected revenue over the next 3 days?

Respuesta :

MrRoyal

Lucas's car dealerships' expected revenue over the next 3 days is $6800

How to determine the expected revenue?

The expected revenue is calculated using the following formula of expected value

[tex]E(x) = \sum x * P(x)[/tex]

The data elements on the table are represented as:

Days        Revenue

0              3000

1               1800

2              1300

3               800

So, we have:

E(x) = 0 * 3000 + 1 * 1800 + 2 * 1300 + 3 * 800

Evaluate the sum of the products

E(x) = 6800

Hence, Lucas's expected revenue is $6800

Read more about expected values at:

https://brainly.com/question/15858152

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