1- The level of income depends on famer work and it varied according to the rate of rainfall, the following table showing two alternatives of the agricultural work, determine the level of the risk from each alternative by: a- using the expected value method, b- using the standard deviation c- using Coefficient of variation method, and for each one show which alternative will you choose? Table: Farmer income at different level of rainfall and with different probabilities State Income (JD/Year) (Rainfall rate) Alternative A Alternative B Prob. Income Prob. Income High 0.2 30000 0.2 50000 Moderate 0.5 25000 0.5 25000 Low 0.3 20000 0.3

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
1- The level of income depends on famer work and it varied
according to the rate of rainfall, the following table showing two
alternatives of the agricultural work, determine the level of the risk
from each alternative by:
a- using the expected value method,
b- using the standard deviation
c- using Coefficient of variation method, and for each one show
which alternative will you choose?
Table: Farmer income at different level of rainfall and with
different probabilities
State
Income (JD/Year)
(Rainfall
rate)
Alternative A
Alternative B
Prob. Income Prob.
Income
High
0.2
30000
0.2
50000
Moderate
0.5
25000
0.5
25000
Low
0.3
20000
0.3
Transcribed Image Text:1- The level of income depends on famer work and it varied according to the rate of rainfall, the following table showing two alternatives of the agricultural work, determine the level of the risk from each alternative by: a- using the expected value method, b- using the standard deviation c- using Coefficient of variation method, and for each one show which alternative will you choose? Table: Farmer income at different level of rainfall and with different probabilities State Income (JD/Year) (Rainfall rate) Alternative A Alternative B Prob. Income Prob. Income High 0.2 30000 0.2 50000 Moderate 0.5 25000 0.5 25000 Low 0.3 20000 0.3
Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman