Felipe performs 50 experimental casts with each lure. Once he decides which lure to use, he is
going to perform 300 casts with that lure over the next year.
What is Felipe's expected profit if he casts with the large lure?
$
What is Felipe's expected profit if he casts with the small lure?
$
To maximize his expected profit, Felipe should cast with the
lure.
4
(If necessary, round your answers to the nearest cent.)
The following table shows the average profit for each type of fish depending on which lure
Felipe uses: