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The budgeting process For a midwestern collage resulted in expense forcasts for the comming year in millions $ 9 , $ 1 0 , $
The budgeting process For a midwestern collage resulted in expense forcasts for the comming year in millions $ $ $ $ and $ expenses are unknown so the following probablilities are assigned and
a Show the probability distribution for the expense forecast.
table
b What is the expected value in $ millions of the expense forecast for the coming year?
million
c What is the variance of the expense forecast for the coming year?
d If income projections for the year are estimated at $ million, comment on the financial position of the college. With this estimate, the college can expect a profit in $ million of $ million. From the assigned probability, there is chance that expenses will equal $ million causing the college to run a Select
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