In the table below x denotes the X-Tract Company’s projected annual profit (in $1,000). The table also shows the probability of earning that profit. The negative value indicates a loss. xf(x) x = profit -1000.01 f(x) = probability-2000.04 0 1000.26 2000.54 3000.05 4000.02 13If we quadruple each value in the profit column above, the new expected value of profit will be. a$616 b$604 c$592 d$580

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If we quadruple each value in the profit column above, the new expected value of profit will be.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Question

In the table below x denotes the X-Tract Company’s projected annual profit (in $1,000). The table also shows the probability of earning that profit. The negative value indicates a loss.

x	f(x)	x = profit
-100	0.01	f(x) = probability
-200	0.04
0
100	0.26
200	0.54
300	0.05
400	0.02

13	If we quadruple each value in the profit column above, the new expected value of profit will be.

a	$616
b	$604
c	$592
d	$580

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x = denotes the X-Tract Company’s projected annual profit (in $1,000).

The table also shows the probability of earning that profit.

The negative value indicates a loss.

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