anonymous
  • anonymous
The property restoration company PuroServ is considering switching to new dehumidifiers. Their market research, considering the cost of the new machines and their efficiency, tells them that the switch would give them a 75% chance of making a $20,000 profit, a 20% chance of breaking even, and a 5% chance of losing $5,000. How much money does PuroServ expect to make with their new purchase? please show work
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
dont worry
anonymous
  • anonymous
some ons coming
anonymous
  • anonymous
:D

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More answers

anonymous
  • anonymous
keebler I am sorry but I never did a question like this. I will try to get some help.
dumbcow
  • dumbcow
its expected value, kind of like a weighted average \[EV = \sum_{}^{}x*p(x)\] where x is profit made and p(x) is the probability of making that profit
anonymous
  • anonymous
dumbcow i dont get it!!
dumbcow
  • dumbcow
so (20,000)(0.75) + (0)(0.2) + (-5000)(0.05)
dumbcow
  • dumbcow
multiply each probability by its corresponding profit
anonymous
  • anonymous
:D
anonymous
  • anonymous
it is easy
anonymous
  • anonymous
thank u dumbcow
dumbcow
  • dumbcow
no problem what do you get after adding them up
anonymous
  • anonymous
hold on!
anonymous
  • anonymous
it gave me a wired number!
dumbcow
  • dumbcow
hmm should be 14,750 .75*20,000 - .05*5000

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