Find expected value of net profit if car wash loses $30....

[serenity26]

If a car wash loses $30 on rainy days and gain $110 on non rainy days and the probability of rain is 0.14. what is the expected value of net profit.

If you can help me in pointing mt to the correct fromula to use on this problem i think i maybe able to get the right answer.

 

[pka]

Re: net value

if a car wash loses $30 on rainy days and gain $110 on non rainy days and the probability of rain is 0.14. what is the expected value of net profit.

Over how many days?
For one day: ($110)(.86)-($30)(.14).