Help, please!

Can someone guide me in setting this up? I'm at a lose! I think this is much easier than I am making it out to be. Thank you!

A contractor is considering a sale. Based upon the information in the table below, what is the expected profit/loss?

saradoyle said:

Can someone guide me in setting this up? I'm at a lose! I think this is much easier than I am making it out to be. Thank you!

A contractor is considering a sale. Based upon the information in the table below, what is the expected profit/loss?

Profit	Profit-Probability	Loss	Loss-Probability
400	.18	3455	.82

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Definition of expected value

\(\displaystyle E(X) = \displaystyle \sum_{i = 1}^n(X_i * p_i),\ where\ X_i\ are\ the\ numeric\ values\ associated\ with\ each\ event\ and\ p_i\ their\ respective\ probabilities.\)

Be careful in this problem. Values must be logically consistent to get correct answer.