Select the correct answer. There are three cell phone models in a store. When selecting a new cell phone, 25% of the customers choose model A, 33% choose model B, and 32% choose model C. The remaining customers buy from an old collection on which the average profit is $50. If the average profit earned on models A, B, and C is $60, $75, and $40, respectively, what is the expected value of the profit earned on all models?

Given the average profits on the different cell phone models, the expected value of profit to be earned on all models is $57.55How to find the expected value?The expected value of the profit on these models of cell phones can be found based on the number of customers who choose the model and the profit of that model.The expected value of the profit on all the models is:= ∑ ( percentage of customers x Profit per model)= (Percentage of customers model A x Profit from model A) + (Percentage of customers model B x Profit from model B) + (Percentage of customers model C x Profit from model C) + (Percentage of customers old collection x Profit from old collection)= (25% x 60) + (33% x 75) + (32% x 40)  + ( (1 - 25% - 33% - 32%) x 50)= $57.55Options for this question are:$87.25$57.55$54.67$75Find out more on expected value at https://brainly.com/question/14723169#SPJ1