In a certain city, projections for the next year indicate there is a 20% chance that electronics jobs will increase by 1000, a 50% chance that they will increase by 300, and a 30% chance they will decrease by 700. Find the expected change in the number of electronics jobs in that city in the next year. The expected change is an increase of _jobs.

In a certain city, projections for the next year indicate there is a 20% chance that electronics jobs will increase by 1000, a 50% chance that they will increase by 300, and a 30% chance they will decrease by 700. Find the expected change in the number of electronics jobs in that city in the next year. The expected change is an increase of _jobs.

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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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

In a certain city, projections for the next year indicate there is a 20% chance that electronics jobs will increase by

1000,

a 50% chance that they will increase by

300,

and a 30% chance they will decrease by

700.

Find the expected change in the number of electronics jobs in that city in the next year.

The expected change is an increase of _
jobs.

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