SOLUTION: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $995,382 house for sale. If he lists it, he will need to spend $5,150 in advertising, staging, a
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-> SOLUTION: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $995,382 house for sale. If he lists it, he will need to spend $5,150 in advertising, staging, a
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Question 1167568: Phil Dunphy, a real estate agent, is considering whether he should list an unusual $995,382 house for sale. If he lists it, he will need to spend $5,150 in advertising, staging, and fresh cookies. The current owner has given Phil 6 months to sell the house. If he sells it, he will receive a commission of $22,660. If he is unable to sell the house, he will lose the listing and his expenses. Phil estimates the probability of selling this house in 6 months to be 75%. What is the expected profit on this listing?
