SOLUTION: Suppose that an antique jewelry dealer is inter-ested in purchasing a gold necklace for which the prob-abilities are 0.22, 0.36, 0.28, and 0.14, respectively, that she will be able

Question 1159388: Suppose that an antique jewelry dealer is inter-ested in purchasing a gold necklace for which the prob-abilities are 0.22, 0.36, 0.28, and 0.14, respectively, that she will be able to sell it for a profit of $250, sell it for a profit of $150, break even, or sell it for a loss of $150. What is her expected profit?
Answer by Shin123(626) (Show Source): You can put this solution on YOUR website!
The expected profit is . So the expected profit is $88.
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