A forest consists of two types of trees; young (between 0 and 3 m tall) and adults (more than 3 m). Each year, 20% of young trees die, 10% sell for $20 each, 30% remain between 0 and 3 m, and 40% grow taller than 3 m. Each year, 40% of adult trees sell for $50, 20% sell for $20, 30% remain in the forest, and 10% die. If it costs $5 to plant a tree, what is the expected profit for each tree planted?

A forest consists of two types of trees; young (between 0 and 3 m tall) and adults (more than 3 m). Each year, 20% of young trees die, 10% sell for $20 each, 30% remain between 0 and 3 m, and 40% grow taller than 3 m. Each year, 40% of adult trees sell for $50, 20% sell for $20, 30% remain in the forest, and 10% die. If it costs $5 to plant a tree, what is the expected profit for each tree planted?

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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