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Probability Questions in Excel

1. A landscape contractor bids on jobs where he can make 3000 profit. Probabilities of getting one, two, three or four jobs per month are shown.

#Jobs 1 2 3 4
Probability 0.2 0.3 0.4 0.1
Find contractor's expected profit per month

2. If a player rolls two dice and gets a sum of 2 or 12 she wins 20.00. If the person get a 7, she wins 5. The cost to play the game is 3. Find the expectation of the game.

Solution Summary

This solution gives calculations for probability questions in Excel.