{"id":22058,"date":"2016-07-28T07:36:43","date_gmt":"2016-07-28T07:36:43","guid":{"rendered":"http:\/\/essayparlour.com\/paperhelp\/uncategorized\/concert-attendance-depends-on-the-weather-there-are-three\/"},"modified":"2016-07-28T07:36:43","modified_gmt":"2016-07-28T07:36:43","slug":"concert-attendance-depends-on-the-weather-there-are-three","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/economics\/concert-attendance-depends-on-the-weather-there-are-three\/","title":{"rendered":". Concert attendance depends on the weather. There are three"},"content":{"rendered":"<p>. Concert attendance depends on the weather. There are three possible types of weather on the day of&#8230; Show more . Concert attendance depends on the weather. There are three possible types of weather on the day of the concert: terrible, with probability 20%, mediocre, with probability 60%, and great, with probability 20%. Concert attendance is expected to be 500 people if the weather is terrible, 1000 people if the weather is mediocre, and 2000 people if the weather is great. Let X denote the attendance. (a) What is the expected attendance, E(X)? (b) Suppose that each ticket costs $5 and the total cost of giving the concert is fixed and equal $2000. Then, if Y denotes profit from the concert, we have Y = 5X \u2212 2000. What is the expected profit? (c) Find the standard deviation of profit Y . \u2022 Show less<\/p>\n<p><a href='http:\/\/essayparlour.com\/order'><img id='order_now' class='aligncenter' src='http:\/\/essayparlour.com\/wp-content\/uploads\/2016\/07\/8952039_orig.png' alt='Order Now' name='order_now'><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>. Concert attendance depends on the weather. There are three possible types of weather on the day of&#8230; Show more . Concert attendance depends on the weather. There are three possible types of weather on the day of the concert: terrible, with probability 20%, mediocre, <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-22058","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/22058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=22058"}],"version-history":[{"count":0,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/22058\/revisions"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=22058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=22058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=22058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}