Mme. Giselle's boutique in Cleveland, Ohio is planning to sell a Parisian frock. If the public view it as being the latest style, the frocks will be worth $10 comma 000. However, if the frocks are viewed as passe, they will be worth only $2 comma 000. If the probability that they are stylish is 10%, what is the expected value of the frocks? The expected value of the frocks (EV) is EVequals$ nothing. (Enter your response rounded to two decimal places.)

the expected value of the frocks (EV) is 2800

Step-by-step explanation:

the expected value of the frocks= (probability of stylish* worth)+(probability of passe* worth)

If the public view it as being the latest style, the frocks will be worth $10,000.

if the frocks are viewed as passe, they will be worth only $2,000.

If the probability that they are stylish is 10%

probability of stylish = 10000

worth = 10%

probability of passe = 2000

Therefore, the expected value of the frocks (EV) is 2800

can you add an image ?

step-by-step explanation:

i dont know

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