A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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The following is the daily return schedule for operating
various businesses under bad, normal, and good
weather. Return on InvestmentType of BusinessGood
Weather (Probability = 0.25) Normal Weather(
0.5) Bad Weather (Probability
Probability
= 0.25)16 % 12 % -12 %Ice Cream Shop
-8 % 10 % 20 % Coffee Shop12 % 6 % -8%Bikini Shop
12 % 8 % -4%Cold Drinks ShopWhat is the expected
return of investing in an Ice Cream Shop?
=
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Transcribed Image Text:The following is the daily return schedule for operating various businesses under bad, normal, and good weather. Return on InvestmentType of BusinessGood Weather (Probability = 0.25) Normal Weather( 0.5) Bad Weather (Probability Probability = 0.25)16 % 12 % -12 %Ice Cream Shop -8 % 10 % 20 % Coffee Shop12 % 6 % -8%Bikini Shop 12 % 8 % -4%Cold Drinks ShopWhat is the expected return of investing in an Ice Cream Shop? =
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