The budgeting process for a midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Because the actual expenses are unknown, thefollowing respective probabilities are assigned: 0.3, 0.15, 0.22, 0.14, and 0.19.Round your answers to 2 decimal places.a. Show the probability distribution for the expense forecast.X9101112f(x)13b. What is the expected value of the expense forecast for the coming year?$millionc. What is the variance of the expense forecast for the coming year?d. If income projections for the year are estimated at $12 million, how much profit does the college expect to make?million

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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