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Find the expected commission
A salesperson for a medical device company has two appointments. He believes the first has a 70% chance of a deal paying 1,000 dollars commission, and the second a 40% chance of a deal paying 1,500 dollars. Assume the appointment results are independent. What is his expected commission based on these beliefs?
CJC · Lecture · Example 9
Name the events, identify the sample space, and state which outcomes or conditions are being counted.