ALG2.227 Using Statistical Models for Decision Making
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Skill Level🔴 Hard
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A bike-share company models daily rides R from average temperature T ( degrees F):
R = 420 + 30T
Tomorrow's temperature forecast is:
- 30% chance: 55 degrees F
- 50% chance: 65 degrees F
- 20% chance: 75 degrees F
Each ride brings in $1.80.
What is the expected revenue for tomorrow (in dollars)?