if it rains an umbrella salesman can earn rupees 300 per day.if it is fair he can lose Rs 80 per day. what is his expectation if the probability of price is 0.6?
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Answered by
9
If rain earning Probability =300/300=1
If fair earning Probability =300-80)/300=11/15
If Probability =0.6=6/10=180/300
So his expectation =180
If fair earning Probability =300-80)/300=11/15
If Probability =0.6=6/10=180/300
So his expectation =180
Answered by
3
Rs 148 is expectation if the probability of Rain is 0.6
Step-by-step explanation:
Probability of Rain = 0.6
Probability of not Raining = 0.4
If it rains = (300 * 0.6) = 180 Rs
if it does not rain loosed = (0.4 * 80) = 32 Rs
Expectation = 180 - 32 = Rs 148
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