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Q.

Let X denote the profit of a trader. If the probability of his profit being Rs. 2800 is 0.5, the probability of his loss being Rs. 5000 is 0.3 and that of no profit and no loss in 0.2 then mean is

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a

-200

b

100

c

-100

d

200

answer is B.

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Detailed Solution

Let X denote the profit of a trades. 

Given that 

      X2800                   -5000
    P (X)    0.5                      0.3  

Now mean 

                     =∑xP(X) =2800 (0.5)-5000(0.3) =1400-1500 =-100

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