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A Farm Owner Has Three Possible Hiring Decisions

Question 12

Multiple Choice

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 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.


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

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