Question

If 65 sets of skis are available, compute Mike's expected profit:

a) $650
b) $780
c) $920
d) $1,050

Answer 1

To calculate Mike's expected profit, we need to know the price at which the skis will be sold.

Step-by-step explanation:

Calculating expected profit involves estimating the average profit you anticipate based on various possible outcomes and their associated probabilities.

To calculate Mike's expected profit, we need to know the price at which the skis will be sold. The question does not provide this information, so we cannot determine the expected profit. Therefore, none of the given options (a) $650, (b) $780, (c) $920, or (d) $1,050) can be correct.