SlideShare a Scribd company logo
An Oil Company is considering two sites on which to drill described as follows:
Site A
Profit if oil is found: $200 million
Loss if no oil is found: $30 million
Probability of finding oil: 0.10
Site B
Profit if oil is found: $90 million
Loss if no oil is found: $15 million
Probability of finding oil: 0.30
Part 1: Calculate the expected profit for Site A.

More Related Content

More from ambritgames

anet, Julie and Bettie have a partnership that makes birthday partie.pdf
anet, Julie and Bettie have a partnership that makes birthday partie.pdfanet, Julie and Bettie have a partnership that makes birthday partie.pdf
anet, Julie and Bettie have a partnership that makes birthday partie.pdf
ambritgames
 
Annika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdf
Annika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdfAnnika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdf
Annika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdf
ambritgames
 
Anne and Philippe first got to know each other in the Paris area in .pdf
Anne and Philippe first got to know each other in the Paris area in .pdfAnne and Philippe first got to know each other in the Paris area in .pdf
Anne and Philippe first got to know each other in the Paris area in .pdf
ambritgames
 
animation.#include windows.h#include GLglut.h#inclu.pdf
animation.#include windows.h#include GLglut.h#inclu.pdfanimation.#include windows.h#include GLglut.h#inclu.pdf
animation.#include windows.h#include GLglut.h#inclu.pdf
ambritgames
 
Analice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdf
Analice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdfAnalice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdf
Analice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdf
ambritgames
 
Although Wilma is clearly benefitting from day care, so are Lorenzo .pdf
Although Wilma is clearly benefitting from day care, so are Lorenzo .pdfAlthough Wilma is clearly benefitting from day care, so are Lorenzo .pdf
Although Wilma is clearly benefitting from day care, so are Lorenzo .pdf
ambritgames
 
Although their populations have increased, mountain Gorillas (Gorill.pdf
Although their populations have increased, mountain Gorillas (Gorill.pdfAlthough their populations have increased, mountain Gorillas (Gorill.pdf
Although their populations have increased, mountain Gorillas (Gorill.pdf
ambritgames
 
Am�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdf
Am�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdfAm�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdf
Am�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdf
ambritgames
 
Amazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdf
Amazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdfAmazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdf
Amazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdf
ambritgames
 
Also submit a text-file, in which you explain in about one page what.pdf
Also submit a text-file, in which you explain in about one page what.pdfAlso submit a text-file, in which you explain in about one page what.pdf
Also submit a text-file, in which you explain in about one page what.pdf
ambritgames
 
Alrededor del 12 de todas las personas escriben con la mano izquier.pdf
Alrededor del 12 de todas las personas escriben con la mano izquier.pdfAlrededor del 12 de todas las personas escriben con la mano izquier.pdf
Alrededor del 12 de todas las personas escriben con la mano izquier.pdf
ambritgames
 
Alquiler de equipos en BuildIT BuildIT es una empresa constructora.pdf
Alquiler de equipos en BuildIT BuildIT es una empresa constructora.pdfAlquiler de equipos en BuildIT BuildIT es una empresa constructora.pdf
Alquiler de equipos en BuildIT BuildIT es una empresa constructora.pdf
ambritgames
 
Anders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdf
Anders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdfAnders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdf
Anders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdf
ambritgames
 
and Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdf
and Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdfand Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdf
and Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdf
ambritgames
 
Analysts often value companies by forecasting a series of cash flows.pdf
Analysts often value companies by forecasting a series of cash flows.pdfAnalysts often value companies by forecasting a series of cash flows.pdf
Analysts often value companies by forecasting a series of cash flows.pdf
ambritgames
 
Analyze After the corporations formation, what is the fundamental .pdf
Analyze After the corporations formation, what is the fundamental .pdfAnalyze After the corporations formation, what is the fundamental .pdf
Analyze After the corporations formation, what is the fundamental .pdf
ambritgames
 
Analisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdf
Analisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdfAnalisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdf
Analisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdf
ambritgames
 
Allocation of Service DepartmentsService DepartmentsProduction Dep.pdf
Allocation of Service DepartmentsService DepartmentsProduction Dep.pdfAllocation of Service DepartmentsService DepartmentsProduction Dep.pdf
Allocation of Service DepartmentsService DepartmentsProduction Dep.pdf
ambritgames
 
Analice los factores que influyen en las estructuras salariales inte.pdf
Analice los factores que influyen en las estructuras salariales inte.pdfAnalice los factores que influyen en las estructuras salariales inte.pdf
Analice los factores que influyen en las estructuras salariales inte.pdf
ambritgames
 
An organization estimated that in a particular year the population o.pdf
An organization estimated that in a particular year the population o.pdfAn organization estimated that in a particular year the population o.pdf
An organization estimated that in a particular year the population o.pdf
ambritgames
 

More from ambritgames (20)

anet, Julie and Bettie have a partnership that makes birthday partie.pdf
anet, Julie and Bettie have a partnership that makes birthday partie.pdfanet, Julie and Bettie have a partnership that makes birthday partie.pdf
anet, Julie and Bettie have a partnership that makes birthday partie.pdf
 
Annika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdf
Annika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdfAnnika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdf
Annika se estaba divirtiendo jugando al p�quer. Necesitaba que las s.pdf
 
Anne and Philippe first got to know each other in the Paris area in .pdf
Anne and Philippe first got to know each other in the Paris area in .pdfAnne and Philippe first got to know each other in the Paris area in .pdf
Anne and Philippe first got to know each other in the Paris area in .pdf
 
animation.#include windows.h#include GLglut.h#inclu.pdf
animation.#include windows.h#include GLglut.h#inclu.pdfanimation.#include windows.h#include GLglut.h#inclu.pdf
animation.#include windows.h#include GLglut.h#inclu.pdf
 
Analice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdf
Analice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdfAnalice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdf
Analice Argument Clinic, un boceto de Monty Pythons Flying Circu.pdf
 
Although Wilma is clearly benefitting from day care, so are Lorenzo .pdf
Although Wilma is clearly benefitting from day care, so are Lorenzo .pdfAlthough Wilma is clearly benefitting from day care, so are Lorenzo .pdf
Although Wilma is clearly benefitting from day care, so are Lorenzo .pdf
 
Although their populations have increased, mountain Gorillas (Gorill.pdf
Although their populations have increased, mountain Gorillas (Gorill.pdfAlthough their populations have increased, mountain Gorillas (Gorill.pdf
Although their populations have increased, mountain Gorillas (Gorill.pdf
 
Am�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdf
Am�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdfAm�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdf
Am�rica Central est� plagada de todos los siguientes hoy en d�a, exc.pdf
 
Amazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdf
Amazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdfAmazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdf
Amazon Goes Global 2020 Case Study1. Who are the stakeholders in t.pdf
 
Also submit a text-file, in which you explain in about one page what.pdf
Also submit a text-file, in which you explain in about one page what.pdfAlso submit a text-file, in which you explain in about one page what.pdf
Also submit a text-file, in which you explain in about one page what.pdf
 
Alrededor del 12 de todas las personas escriben con la mano izquier.pdf
Alrededor del 12 de todas las personas escriben con la mano izquier.pdfAlrededor del 12 de todas las personas escriben con la mano izquier.pdf
Alrededor del 12 de todas las personas escriben con la mano izquier.pdf
 
Alquiler de equipos en BuildIT BuildIT es una empresa constructora.pdf
Alquiler de equipos en BuildIT BuildIT es una empresa constructora.pdfAlquiler de equipos en BuildIT BuildIT es una empresa constructora.pdf
Alquiler de equipos en BuildIT BuildIT es una empresa constructora.pdf
 
Anders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdf
Anders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdfAnders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdf
Anders, Inc., tiene 15,000 acciones del 4, valor nominal de $100, a.pdf
 
and Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdf
and Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdfand Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdf
and Ex 2.4 is as follows.thanks a lot for your help! 2.11 Let .pdf
 
Analysts often value companies by forecasting a series of cash flows.pdf
Analysts often value companies by forecasting a series of cash flows.pdfAnalysts often value companies by forecasting a series of cash flows.pdf
Analysts often value companies by forecasting a series of cash flows.pdf
 
Analyze After the corporations formation, what is the fundamental .pdf
Analyze After the corporations formation, what is the fundamental .pdfAnalyze After the corporations formation, what is the fundamental .pdf
Analyze After the corporations formation, what is the fundamental .pdf
 
Analisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdf
Analisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdfAnalisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdf
Analisis de CASO 1- En 2013, Walmart decidi� ingresar al mercado i.pdf
 
Allocation of Service DepartmentsService DepartmentsProduction Dep.pdf
Allocation of Service DepartmentsService DepartmentsProduction Dep.pdfAllocation of Service DepartmentsService DepartmentsProduction Dep.pdf
Allocation of Service DepartmentsService DepartmentsProduction Dep.pdf
 
Analice los factores que influyen en las estructuras salariales inte.pdf
Analice los factores que influyen en las estructuras salariales inte.pdfAnalice los factores que influyen en las estructuras salariales inte.pdf
Analice los factores que influyen en las estructuras salariales inte.pdf
 
An organization estimated that in a particular year the population o.pdf
An organization estimated that in a particular year the population o.pdfAn organization estimated that in a particular year the population o.pdf
An organization estimated that in a particular year the population o.pdf
 

Recently uploaded

How to deliver Powerpoint Presentations.pptx
How to deliver Powerpoint  Presentations.pptxHow to deliver Powerpoint  Presentations.pptx
How to deliver Powerpoint Presentations.pptx
HajraNaeem15
 
Mule event processing models | MuleSoft Mysore Meetup #47
Mule event processing models | MuleSoft Mysore Meetup #47Mule event processing models | MuleSoft Mysore Meetup #47
Mule event processing models | MuleSoft Mysore Meetup #47
MysoreMuleSoftMeetup
 
writing about opinions about Australia the movie
writing about opinions about Australia the moviewriting about opinions about Australia the movie
writing about opinions about Australia the movie
Nicholas Montgomery
 
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptx
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxBeyond Degrees - Empowering the Workforce in the Context of Skills-First.pptx
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptx
EduSkills OECD
 
Stack Memory Organization of 8086 Microprocessor
Stack Memory Organization of 8086 MicroprocessorStack Memory Organization of 8086 Microprocessor
Stack Memory Organization of 8086 Microprocessor
JomonJoseph58
 
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptxNEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
iammrhaywood
 
B. Ed Syllabus for babasaheb ambedkar education university.pdf
B. Ed Syllabus for babasaheb ambedkar education university.pdfB. Ed Syllabus for babasaheb ambedkar education university.pdf
B. Ed Syllabus for babasaheb ambedkar education university.pdf
BoudhayanBhattachari
 
Nutrition Inc FY 2024, 4 - Hour Training
Nutrition Inc FY 2024, 4 - Hour TrainingNutrition Inc FY 2024, 4 - Hour Training
Nutrition Inc FY 2024, 4 - Hour Training
melliereed
 
How to Setup Warehouse & Location in Odoo 17 Inventory
How to Setup Warehouse & Location in Odoo 17 InventoryHow to Setup Warehouse & Location in Odoo 17 Inventory
How to Setup Warehouse & Location in Odoo 17 Inventory
Celine George
 
Gender and Mental Health - Counselling and Family Therapy Applications and In...
Gender and Mental Health - Counselling and Family Therapy Applications and In...Gender and Mental Health - Counselling and Family Therapy Applications and In...
Gender and Mental Health - Counselling and Family Therapy Applications and In...
PsychoTech Services
 
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumPhilippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
MJDuyan
 
Présentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptx
Présentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptxPrésentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptx
Présentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptx
siemaillard
 
Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"
Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"
Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"
National Information Standards Organization (NISO)
 
BBR 2024 Summer Sessions Interview Training
BBR  2024 Summer Sessions Interview TrainingBBR  2024 Summer Sessions Interview Training
BBR 2024 Summer Sessions Interview Training
Katrina Pritchard
 
Pharmaceutics Pharmaceuticals best of brub
Pharmaceutics Pharmaceuticals best of brubPharmaceutics Pharmaceuticals best of brub
Pharmaceutics Pharmaceuticals best of brub
danielkiash986
 
A Independência da América Espanhola LAPBOOK.pdf
A Independência da América Espanhola LAPBOOK.pdfA Independência da América Espanhola LAPBOOK.pdf
A Independência da América Espanhola LAPBOOK.pdf
Jean Carlos Nunes Paixão
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
Nguyen Thanh Tu Collection
 
Lifelines of National Economy chapter for Class 10 STUDY MATERIAL PDF
Lifelines of National Economy chapter for Class 10 STUDY MATERIAL PDFLifelines of National Economy chapter for Class 10 STUDY MATERIAL PDF
Lifelines of National Economy chapter for Class 10 STUDY MATERIAL PDF
Vivekanand Anglo Vedic Academy
 
Film vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movieFilm vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movie
Nicholas Montgomery
 
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptxC1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
mulvey2
 

Recently uploaded (20)

How to deliver Powerpoint Presentations.pptx
How to deliver Powerpoint  Presentations.pptxHow to deliver Powerpoint  Presentations.pptx
How to deliver Powerpoint Presentations.pptx
 
Mule event processing models | MuleSoft Mysore Meetup #47
Mule event processing models | MuleSoft Mysore Meetup #47Mule event processing models | MuleSoft Mysore Meetup #47
Mule event processing models | MuleSoft Mysore Meetup #47
 
writing about opinions about Australia the movie
writing about opinions about Australia the moviewriting about opinions about Australia the movie
writing about opinions about Australia the movie
 
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptx
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxBeyond Degrees - Empowering the Workforce in the Context of Skills-First.pptx
Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptx
 
Stack Memory Organization of 8086 Microprocessor
Stack Memory Organization of 8086 MicroprocessorStack Memory Organization of 8086 Microprocessor
Stack Memory Organization of 8086 Microprocessor
 
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptxNEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
NEWSPAPERS - QUESTION 1 - REVISION POWERPOINT.pptx
 
B. Ed Syllabus for babasaheb ambedkar education university.pdf
B. Ed Syllabus for babasaheb ambedkar education university.pdfB. Ed Syllabus for babasaheb ambedkar education university.pdf
B. Ed Syllabus for babasaheb ambedkar education university.pdf
 
Nutrition Inc FY 2024, 4 - Hour Training
Nutrition Inc FY 2024, 4 - Hour TrainingNutrition Inc FY 2024, 4 - Hour Training
Nutrition Inc FY 2024, 4 - Hour Training
 
How to Setup Warehouse & Location in Odoo 17 Inventory
How to Setup Warehouse & Location in Odoo 17 InventoryHow to Setup Warehouse & Location in Odoo 17 Inventory
How to Setup Warehouse & Location in Odoo 17 Inventory
 
Gender and Mental Health - Counselling and Family Therapy Applications and In...
Gender and Mental Health - Counselling and Family Therapy Applications and In...Gender and Mental Health - Counselling and Family Therapy Applications and In...
Gender and Mental Health - Counselling and Family Therapy Applications and In...
 
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumPhilippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) Curriculum
 
Présentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptx
Présentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptxPrésentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptx
Présentationvvvvvvvvvvvvvvvvvvvvvvvvvvvv2.pptx
 
Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"
Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"
Jemison, MacLaughlin, and Majumder "Broadening Pathways for Editors and Authors"
 
BBR 2024 Summer Sessions Interview Training
BBR  2024 Summer Sessions Interview TrainingBBR  2024 Summer Sessions Interview Training
BBR 2024 Summer Sessions Interview Training
 
Pharmaceutics Pharmaceuticals best of brub
Pharmaceutics Pharmaceuticals best of brubPharmaceutics Pharmaceuticals best of brub
Pharmaceutics Pharmaceuticals best of brub
 
A Independência da América Espanhola LAPBOOK.pdf
A Independência da América Espanhola LAPBOOK.pdfA Independência da América Espanhola LAPBOOK.pdf
A Independência da América Espanhola LAPBOOK.pdf
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
BÀI TẬP BỔ TRỢ TIẾNG ANH 8 CẢ NĂM - GLOBAL SUCCESS - NĂM HỌC 2023-2024 (CÓ FI...
 
Lifelines of National Economy chapter for Class 10 STUDY MATERIAL PDF
Lifelines of National Economy chapter for Class 10 STUDY MATERIAL PDFLifelines of National Economy chapter for Class 10 STUDY MATERIAL PDF
Lifelines of National Economy chapter for Class 10 STUDY MATERIAL PDF
 
Film vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movieFilm vocab for eal 3 students: Australia the movie
Film vocab for eal 3 students: Australia the movie
 
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptxC1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
 

An Oil Company is considering two sites on which to drill described .pdf

  • 1. An Oil Company is considering two sites on which to drill described as follows: Site A Profit if oil is found: $200 million Loss if no oil is found: $30 million Probability of finding oil: 0.10 Site B Profit if oil is found: $90 million Loss if no oil is found: $15 million Probability of finding oil: 0.30 Part 1: Calculate the expected profit for Site A.