a) You are considering a sales job that pays you on a commission basis or a salaried position that pays you RM50,000 per year. Historical data suggests the following probability distribution for your commission income. Decide which job has the higher expected income. Commission Insurance Commission of Unit Trust Agent Agent Probability of Occurrence RM15,000 RM80,000 0.15 RM35,000 RM38,000 0.20 RM48,000 RM45,000 0.35 RM67,000 RM15,000 0.22 RM80,000 RM77,000 0.18

A First Course in Probability (10th Edition)
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Chapter1: Combinatorial Analysis
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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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a)
You are considering a sales job that pays you on a commission basis or a
salaried position that pays you RM50,000 per year. Historical data suggests the
following probability distribution for your commission income. Decide which job
has the higher expected income.
Commission Insurance Commission of Unit Trust
Agent
Agent
Probability of Occurrence
RM15,000
RM80,000
0.15
RM35,000
RM38,000
0.20
RM48,000
RM45,000
0.35
RM67,000
RM15,000
0.22
RM80,000
RM77,000
0.18
Transcribed Image Text:a) You are considering a sales job that pays you on a commission basis or a salaried position that pays you RM50,000 per year. Historical data suggests the following probability distribution for your commission income. Decide which job has the higher expected income. Commission Insurance Commission of Unit Trust Agent Agent Probability of Occurrence RM15,000 RM80,000 0.15 RM35,000 RM38,000 0.20 RM48,000 RM45,000 0.35 RM67,000 RM15,000 0.22 RM80,000 RM77,000 0.18
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