On any given day, a salesman can earn $0 with a 45% probability, $250 with a 25% probability, or $400 with a 30% probability. His expected earnings equal: $ nothing (round your answer to the nearest penny).

The expected value of occurring events [tex]x_1,\ x_2, \ x_3\ ....,x_n[/tex] having probabilities [tex]p_1,\ p_2,\ p_3\ ....,p_n[/tex] is given by :-

[tex]E(x)=x_1\cdot \ p_1+x_2\cdot \ p_2+x_3\cdot \ p_3+....+x_n\cdot \ p_n[/tex]

Given : On any given day, a salesman can earn $0 with a 45% probability, $250 with a 25% probability, or $400 with a 30% probability.

i.e. Probability of earning $0 = 0.45

Probability of earning $250=0.25

Probability of earning $400=0.30

Then , the expected earnings is given by :-

[tex]E(x)=0\times0.45+250\times0.25+400\times0.30=182.5[/tex]

Hence, the his expected earnings is $182.5.

On any given​ day, a salesman can earn​ $0 with a 45​% ​probability, ​$250 with a 25​% ​probability, or ​$400 with a 30​% probability. His expected earnings​ equal: ​$ nothing ​(round your answer to the nearest penny​).

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On any given day, a salesman can earn $0 with a 45% probability, $250 with a 25% probability, or $400 with a 30% probability. His expected earnings equal: $ nothing (round your answer to the nearest penny).