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A petrol pump proprietor sells petrol worth Rs. 80,000 on a rainy day and worth Rs. 95,000 on a clear day. Statistics from the Meteorological Department show that the probability is 0.76 for clear weather and 0.24 for rainy weather on coming Monday. Find the expected value of petrol sale on Monday

1 Answers 1

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Rs. 95000*.76 + Rs. 80000*.24 = Rs 91400