A forest consists of two types of trees; those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5 ft trees die. 10% are sold for $20 each. 30% stay between 0-5 ft and 20% grow more than 5 ft. Each year 50% of all trees taller than 5 ft are sold for $50, 20% are sold for $30 and 30% remain in the forest. A. What is the probability that a 0-5 ft tall tree will die before being sold and if a tree less than 5 ft is planted what is the expected revenue earned from that tree. (not solved with excel please)

A forest consists of two types of trees; those that are 0-5 ft and those that are taller than 5 ft. Each year, 40% of all 0-5 ft trees die. 10% are sold for $20 each. 30% stay between 0-5 ft and 20% grow more than 5 ft. Each year 50% of all trees taller than 5 ft are sold for $50, 20% are sold for $30 and 30% remain in the forest. A. What is the probability that a 0-5 ft tall tree will die before being sold and if a tree less than 5 ft is planted what is the expected revenue earned from that tree. (not solved with excel please)

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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