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
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Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
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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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