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April 8th, 2019, 12:08 PM  #1 
Newbie Joined: Apr 2019 From: FL Posts: 1 Thanks: 0  Please help me through this problem!
Phil Dunphy, a real estate agent, is considering whether he should list an unusual $551,061 house for sale. If he lists it, he will need to spend $5,233 in advertising, staging, and fresh cookies. The current owner has given Phil 6 months to sell the house. If he sells it, he will receive a commission of $21,449. If he is unable to sell the house, he will lose the listing and his expenses. Phil estimates the probability of selling this house in 6 months to be 42%. What is the expected profit on this listing?

April 8th, 2019, 01:13 PM  #2 
Global Moderator Joined: May 2007 Posts: 6,770 Thanks: 700 
Net= $.42\times 21449  $expenses.

April 8th, 2019, 02:28 PM  #3  
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,597 Thanks: 1038 
Clearer(?): Quote:
42% of (21449  5233) = 6810.72 58% of 5233 = 3035.14 Expected profit = 6810.72  3035.14 = 3775.58 Well....I tried!!  