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I am wondering if someone could help me solve this equation
A car wash makes $4000 profit on sunny days and loses $4000 on non-sunny days.
Assuming independence, if it is sunny 75% of the days, (and, therefore NOT sunny 25% of the days) what is the expected (daily) profit (or loss) for the car wash? (MEAN = EXPECTED VALUE) Let me know via email or can you please forward me to someone who can help me with this formula? Thank you. |
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