A farm owner has three possible hiring decisions.His profits depend on the growing season as shown below.If the probability of a good growing season is 0.75.What is the expected value of hiring teenagers?

A)$62,500
B)$52,500
C)$46,250
D)$12,990
E)None of the above.

Question

A farm owner has three possible hiring decisions.His profits depend on the growing season as shown below.If the probability of a good growing season is 0.75.What is the expected value of hiring teenagers?

A)$62,500 
B)$52,500 
C)$46,250 
D)$12,990 
E)None of the above.

Quizplus · Accepted Answer

The Answer is B

A Farm Owner Has Three Possible Hiring Decisions