Phil Dunphy, a real estate agent, is considering whether he should list an unusual $624,839 house for sale. If he lists it, he will need to spend…

Phil Dunphy, a real estate agent, is considering whether he should list an unusual $624,839 house for sale. If he lists it, he will need to spend $4,275 in advertising, staging, and fresh cookies. The current owner has given Phil 6 months to sell the house. If he sells it, he will receive a commission of $22,267. If he is unable to sell the house, he will lose the listing and his expenses. Phil estimates the probability of selling this house in 6 months to be 40%. What is the expected profit on this listing?

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