Arock concert promoter has scheduled an outdoor concert on july 4th. if it does not rain, the promoter will make $30,000. if it does rain, the promoter will lose $15,000 in guarantees made to the band and other expenses. the probability of rain on the 4th is .4.

(a) what is the promoter's expected profit? is the expected profit a reasonable decision criterion? (round your answers to 1 decimal place. omit the "$" sign in your response.)

(b) how much should an insurance company charge to insure the promoter's full losses?

Step-by-step explanation:

Given that on July 4th a rock concert promoter has scheduled an outdoor concert.

Probability for rain = 0.4

If it rains earnings would be -15000

if it does not rain earning would be +30000

Let X be the earning

X   30000   -15000

p    0.6           0.4

x*p   18000   -6000

a)Expected profit =

b) Insurance company has to refund for the losses if it rains.

Hence insurance company will charge 15000 *prob = 6000

you forgot the options, but i found them anyways, the correct answer is "john wilson believes that words and actions based on the intellect are superior to those based on emotions".

john wilson is depicted as an extremely intelligent man. the point of the excerpt is to make a sort of distinction between emotional and rational intelligence. he happens to have both attributes, but he clearly favors his intellectual gifts. at the same time, because of his religious background, he's a little bit conflicted with this and it makes him ashamed.

hope this !