A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on the weather according to the following table. Weather Attendance Probability wet, cold 3000 0.1 wet, warm 20000 0.2 dry, cold 30000 0.2 dry, warm 50000 0.5 (a) What is the expected attendance? answer: (b) If tickets cost $ 25 each, the band
A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on the weather according to the following table. Weather Attendance Probability wet, cold 3000 0.1 wet, warm 20000 0.2 dry, cold 30000 0.2 dry, warm 50000 0.5 (a) What is the expected attendance? answer: (b) If tickets cost $ 25 each, the band
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 2CYU
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A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on the weather according to the following table.
Weather Attendance Probability
wet, cold 3000 0.1
wet, warm 20000 0.2
dry, cold 30000 0.2
dry, warm 50000 0.5
(a) What is the expected attendance?
answer:
(b) If tickets cost $ 25 each, the band will cost $ 200000, plus $ 40000 for administration. What is the expected profit?
answer:
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