1) We are going to have an outdoor art festival! It is estimated that 120 people will come if it is a cool day, 100 will come if it is a warm day, and 40 will come if is a hot day. Bay News 9 estimates that there is a 20% chance of being a cool day, 65% chance of being a warm day, and a 15% chance of being a hot day.
2. An investor is considering an investment. He estimates that there is a 60% chance of making $5,000, a 32% losing chance of losing $10,000, and an 8% chance of breaking even.
3. An investor is considering an investment. He estimates that there is a 44% chance of making $15,000, a 22% chance of losing $17,000, and a 34% chance of breaking even.
