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Standard X

Mathematics

Probability

In a business...

Question

In a business venture a man can make a profit of Rs. $2000 / -$ with probability of $0.4$ or have a loss of Rs. $1000 / -$ with probability 0.6. His expected profit is

Rs.

800 / -

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Rs.

600 / -

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Rs.

200 / -

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Rs.

400 / -

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Solution

The correct option is C Rs. $200 / -$
Both cases of profit and loss are independent.
Expected profit will be: $2000 \times 0.4 + (- 1000 \times 0.6)$
$800 - 600 = 200$

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In a business venture a man can make a profit of Rs. 2000/− with probability of 0.4 or have a loss of Rs. 1000/− with probability 0.6. His expected profit is

The correct option is C Rs. 200/−Both cases of profit and loss are independent.Expected profit will be: 2000×0.4+(−1000×0.6)800−600=200

In a business venture a man can make a profit of Rs. $2000 / -$ with probability of $0.4$ or have a loss of Rs. $1000 / -$ with probability 0.6. His expected profit is

The correct option is C Rs. $200 / -$
Both cases of profit and loss are independent.
Expected profit will be: $2000 \times 0.4 + (- 1000 \times 0.6)$
$800 - 600 = 200$