What is Jeff's expected earnings from the concert?

Question

Jeff is producing an outdoor concert. He estimates that he will make 3200 dollars if it does not rain, and make 950 dollars if it does rain. The local weather station (which we'll assume is accurate in giving forecasts) predicts that the chance of rain is 23 percent for the day of the concert. 

Answer 1

3200x.77 +950x.23=weighted average

= $2,675.6=expected winnings