A local club plans to host a tennis tournament. The club

Last updated: 7/20/2022

A local club plans to host a tennis tournament. The club will Invest $12,000 and hopes to sell tickets worth $18,000. The weather forecast Is a 20% chance of rain. If It does rain, the tournament will be cancelled, and the club will lose all of its Investment. Do you think this is a good Idea? Find the expected value of hosting the tournament. $6,000 $2400 $12,000 $8,400