A rock concert producer has scheduled an outdoor concert The producer estimates the attendance will...
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A rock concert producer has scheduled an outdoor concert The producer estimates the attendance will depend on the weather according to the following table Weather Attendance Probability wet cold 3000 0 2 wet warm 25000 0 2 dry cold 20000 0 2 dry warm 50000 0 4 a What is the expected attendance answer b If tickets cost 10 each the band will cost 250000 plus 60000 for administration What is the expected profit answer
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