Jerry and George are writing a pilot for a sitcom. They estimate they have a 90% chance of the show not being picked up as a series. If that happens, their combined profit is -$40,000 as they've invested a great deal of time and energy and received nothing for it. If the show is picked up, the profit the pair would earn depends on the success of the show, as indicated in the table below. Calculate Jerry and George's expected profit, in thousands of dollars. Do not include a dollar sign ($) in your answer. Success Probability Minor 25% Moderate 70% Major 5% Profit, in thousands of dollars 20 100 500
Jerry and George are writing a pilot for a sitcom. They estimate they have a 90% chance of the show not being picked up as a series. If that happens, their combined profit is -$40,000 as they've invested a great deal of time and energy and received nothing for it. If the show is picked up, the profit the pair would earn depends on the success of the show, as indicated in the table below. Calculate Jerry and George's expected profit, in thousands of dollars. Do not include a dollar sign ($) in your answer. Success Probability Minor 25% Moderate 70% Major 5% Profit, in thousands of dollars 20 100 500
Chapter9: Sequences, Probability And Counting Theory
Section9.7: Probability
Problem 60SE: Use this data for the exercises that follow: In 2013, there were roughly 317 million citizens in the...
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