Suppose that the profit a Honda dealership makes

| November 19, 2015

Suppose that the profit a Honda dealership makes on selling an Accord is random and is given by the following probability distribution:

36% of the time the profit is 800, 26% of the time the profit is 1100; 18% of the time the profit is 1500; and otherwise, the profit is 1900. What is the expected value of the profit the dealership makes on selling an Accord? (please express your answer using 2 decimal places)

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