Solved

Use the Following to Answer Question

Question 93

Multiple Choice

Use the following to answer question: Use the following to answer question:   -(Table: Income and Utility for Tyler) Use Table: Income and Utility for Tyler.The table shows the utility Tyler receives at various income levels,but she does not know what her income will be next year.There is a 40% chance her income will be $20,000,a 40% chance her income will be $30,000,and a 20% chance her income will be $40,000.What is her expected income? A) $28,000 B) $29,000 C) $30,000 D) $31,000
-(Table: Income and Utility for Tyler) Use Table: Income and Utility for Tyler.The table shows the utility Tyler receives at various income levels,but she does not know what her income will be next year.There is a 40% chance her income will be $20,000,a 40% chance her income will be $30,000,and a 20% chance her income will be $40,000.What is her expected income?


A) $28,000
B) $29,000
C) $30,000
D) $31,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions