ritahastie2896
30.06.2021 •
Mathematics
An oil company is considering two sites on which to drill. The sites are described in the following table. Complete parts (a) through (b) below.
Site A:
Profit if oil is found: $50 million
Loss if no oil is found: $2 million
Probability of finding oil: 0.2
Site B:
Profit if oil is found: $75 million
Loss if no oil is found: $19 million
Probability of finding oil: 0.1
If the expected profit for both sites is not the same, by how much is the expected profit larger?
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