Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Jose loves to eat out in area restaurants. His favorite foods are Mexican, Italian, Chinese, and Thai. On the average, Joe pays
P400 for a Mexican meal, P600 for an Italian meal, P360 for a Chinese meal, and 440 for a Thai meal. Jose's eating habits
are predictable: there is a 70% chance that today's meal is a repeat of yesterday's, and equal probabilities of switching to
one of the remaining three.
How much does Joe pay on the average for his daily dinner?
(A) P400
B) P550
C) P500
D) P600
E) P450
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Transcribed Image Text:Jose loves to eat out in area restaurants. His favorite foods are Mexican, Italian, Chinese, and Thai. On the average, Joe pays P400 for a Mexican meal, P600 for an Italian meal, P360 for a Chinese meal, and 440 for a Thai meal. Jose's eating habits are predictable: there is a 70% chance that today's meal is a repeat of yesterday's, and equal probabilities of switching to one of the remaining three. How much does Joe pay on the average for his daily dinner? (A) P400 B) P550 C) P500 D) P600 E) P450
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