=+4 (Examination level if combined with Questions 5 and 6) The probability of a hot summer is

=+4º (Examination level if combined with Questions 5 and 6) The probability of a hot summer is 0.2. The probability of a moderately warm summer is 0.6, whereas the probability of a wet and cold summer is 0.2. If a hot summer occurs then the return on shares in the Ice Cream Manufacturing Company will be 30 per cent. If moder-

ately warm the return will be 15 per cent, and if cold 2 per cent.

a