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
katieb
  • katieb
See more answers at brainly.com
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this
and thousands of other questions

anonymous
  • anonymous
dont worry
anonymous
  • anonymous
some ons coming
anonymous
  • anonymous
:D

Looking for something else?

Not the answer you are looking for? Search for more explanations.

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

Looking for something else?

Not the answer you are looking for? Search for more explanations.