A rock concert producer has scheduled an outdoor concert. The producer estimates the attendance will depend on the weather according to the following table.
WeatherAttendanceProbability
wet, cold
wet, warm
dry, cold
dry, warm
(a) What is the expected attendance?

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(b) If tickets cost $ 25 each, the band will cost $ 200000, plus $ 50000 for administration. What is the expected profit?

answer:

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