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    Expected commission for a salesman

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    Based on past records, a salesman expects a $0 commission with probability 0.19, $1000 with probability 0.2, $2000 with probability 0.41 and $3000 or $4000 both with probability 0.1.

    Find the expected commission for the salesman.

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    Solution Preview

    The expected value of the commission is the sum of the products of the ...

    Solution Summary

    Calculations for expected commission are given in detail with the algebra and math in detail.