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Finding the Expected Value and Variance using Probability Distribution

eBook (PDF), 4 Pages
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Price: $5.99
"The budgeting process for a Midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Because the actual expenses are unknown, the following respective probabilities are assigned: .3, .2, .25, .05, and .2. a. Show the probability distribution for the expense forecast. b. What is the expected value of the expense forecast for the coming year? c. What is the variance of the expense forecast for the coming year? d. If income projections for the year are estimated at $12 million, comment on the financial position of the college. "
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Product Details

Published
May 23, 2013
Language
English
Pages
4
File Format
PDF
File Size
632.33 KB

Formats for this Ebook

PDF
Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch... (See More)
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes
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