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| A beverage stand can sell either soft drinks or coffee on any given day. If the stand sells soft drinks and the weather is hot, it will make $2,500; if the weather is cold, the profit will be $1, If the stand sells coffee and the weather is hot, it will make $1,900; if the weather is cold, the profit will be $2, The probability of cold weather on a given day at this time is 60%.If the probability of hot weather, given a hot weather forecast, is 50%, how much would the vendor be willing to pay for the forecast? If the probability of hot weather, given a hot weather forecast, is 50%, how much would the vendor be willing to pay for the forecast? A. $600 B. $300 C. $1,000 D. $500 |