Practice problem
Casework and Law of Total Probability
You are a car salesman and want to add new vehicles to your lot. There are styles of vehicles to pick from: hot rod, truck, and van. Hot rods will be chosen with a probability of and will increase revenue with probability of Trucks will be chosen with a probability of and will increase revenue with probability of Vans will be chosen with a probability of and will increase revenue with probability of
Now, you like to make money, and want to calculate the probability that the addition of these vehicles will increase the revenue of your business. Leave your answer in a decimal form.