Amath club is researching a golf tournament fund-raiser. it will cost $1,000 to host the tournament. if it rains, the club will lose the investment. if it is sunny, it is expected that the club will collect $4,500 from the participants. if the chance of rain is 20%, what is the expected value for the tournament?
–$800
–$200
$2600
$3400

The correct answer option is $2,600.

Step-by-step explanation:

We know that:

The cost of hosting the tournament = $1,000

If it rains, the club will lose the investment which will be -$1,000

If it is sunny, the club expects to collect $4,500

So the profit will be = $4,500 - $1,000 = $3,500

If chance of rain is 20% = -$1,000 * 20/100 = -$200

Expected value for the tournament = $3,500 - $200 = $2,600

something over 10 so ? /10

step-by-step explanation: