Question
A British consulting firm specialising in environmental management has chosen a graduate from the RMIT University to join their team. The task of finalising the
A British consulting firm specialising in environmental management has chosen a graduate from the RMIT University to join their team. The task of finalising the employment contract, which should stipulate the number of billable tasks the graduate must complete daily and the corresponding remuneration, lies with the human resource team. While the HR team can review the graduate's outstanding academic achievements, they remain uncertain about the graduate'seffort cost for billable tasks. However, they've estimated this cost to be 4 with a 75% chance and 10 with a 25% chance. The firm knows that the value of tasks completed by the graduate can be represented by:
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