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weather conditions. This information is as shown below: the Return for Strawberry Return for onion farming in % Weather conditions Probability for weather conditions farming in % Sunny and Dry 0.3 3% -5% Low rainfall 0.2 8% 8% Moderate rainfall 0.3 15% 25% High rainfall 0.1 12% 15% Flooding 0.1 -10% - 4%

weather conditions. This information is as shown below: the Return for Strawberry Return for onion farming in % Weather conditions Probability for weather conditions farming in % Sunny and Dry 0.3 3% -5% Low rainfall 0.2 8% 8% Moderate rainfall 0.3 15% 25% High rainfall 0.1 12% 15% Flooding 0.1 -10% - 4%

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Mrs. Teresa is interested in starting a farming business. She is considering venturing into either strawberry farming or onion farming. She has consulted a financial advisor who established probable returns for these two types of farming businesses and the probability of occurring depending on different weather conditions. This information is as shown below: Weather conditions Probability for the Return for Strawberry Return for onion weather conditions farming in % farming in % Sunny and Dry 0.3 3% -5% Low rainfall 0.2 8% 8% Moderate rainfall 0.3 15% 25% High rainfall 0.1 12% 15% Flooding 0.1 -10% - 4% Required: Using all the appropriate measures advice Mrs. Teresa on the best farming business to venture in. Give a well detailed justification for your answer.
Transcribed Image Text:Mrs. Teresa is interested in starting a farming business. She is considering venturing into either strawberry farming or onion farming. She has consulted a financial advisor who established probable returns for these two types of farming businesses and the probability of occurring depending on different weather conditions. This information is as shown below: Weather conditions Probability for the Return for Strawberry Return for onion weather conditions farming in % farming in % Sunny and Dry 0.3 3% -5% Low rainfall 0.2 8% 8% Moderate rainfall 0.3 15% 25% High rainfall 0.1 12% 15% Flooding 0.1 -10% - 4% Required: Using all the appropriate measures advice Mrs. Teresa on the best farming business to venture in. Give a well detailed justification for your answer.
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