Question
Paul Hunt is considering two business ventures. The anticipated returns (in thousands of dollars) of each venture are described by the following probability distributions.Venture A
Paul Hunt is considering two business ventures. The anticipated returns (in thousands of dollars) of each venture are described by the following probability distributions.VentureA
| Earnings | Probability |
|---|---|
10 | 0.2 |
| 40 | 0.4 |
| 50 | 0.4 |
VentureB
| Earnings | Probability |
|---|---|
| 5
| 0.3 |
| 30
| 0.5 |
| 40
| 0.2 |
(a) Compute the mean and variance for VentureA.
| mean | dollars |
| variance | dollars2 |
Compute the mean and variance for VentureB.
| mean | dollars |
| variance | dollars2 |
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Cambridge IGCSE And O Level Additional Mathematics
Authors: Val Hanrahan, Jeanette Powell
1st Edition
1510421645, 978-1510421646
