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B] Cost Mileage Allowance Average Usage 36,000 miles Option 1 $330(36) Option 2 $380(36) Option 3 $430(36) Probability 0.4 Answer is option 2 with

B] Cost Mileage Allowance Average Usage 36,000 miles Option 1 $330(36) Option 2 $380(36) Option 3 $430(36) Probability 0.4 Answer is option 2 with EMV of 14,355 EMV 45,000 miles 330(36)+9,000(0.35) 14950 11800 380(36) 15480 430(36) 0.3 54,000 miles 330(360)+18,000(0.35) 15,030 380(36)+9,000(0.25) 14355 430(36) 15480 0.3 13680

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