Elementary Geometry for College Students
Elementary Geometry for College Students
6th Edition
ISBN: 9781285195698
Author: Daniel C. Alexander, Geralyn M. Koeberlein
Publisher: Cengage Learning
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A farmer wants to decide which of the three crops he should plant on his 100-acre farm. The profit from each is dependent on the rainfall during the growing seasons. The farmer has categorized the amount of rainfall as high, medium, low. His estimated profit for each is shown in the table. If the farmer wishes to plant only one crop, decide which will be his choice using the EMV rule, prove your judgement by comparing the EMV of each crop. (Indicate the EMV in each crop, comparison and the right choice).

Alternative
Crop A
Crop B
Crop C
PROBABILITY
Rainfall
Medium
3500
3500
4500
0.5
High
7000
2000
4500
0.3
Q Zoom
Low
1500
6000
4000
0.2
expand button
Transcribed Image Text:Alternative Crop A Crop B Crop C PROBABILITY Rainfall Medium 3500 3500 4500 0.5 High 7000 2000 4500 0.3 Q Zoom Low 1500 6000 4000 0.2
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