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Probability distribution for all potential outcomes

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Mike is taking 2 classes this summer. He is taking Stat and History. He knows that he will earn either pass or fail each class. The results in each class are independent of one another. He also knows that he has a 10% chance to fail History and a 20% chance to fail Stat. The amount loss of failing a class is $1,000. Set up a probability distribution for all potential outcomes of Mike takin the two classes this summer. Then use that distribution to calculate his expected $ loss for the summer.

Reference no: EM131227041

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