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Three friends are trying to predict who will make more money at work tomorrow. John works construction: he will make $250 tomorrow unless it rains, in which case he will make $0. Sara works in a restaurant: she will earn $100 if it is sunny, $200 if it is rainy, and $250 if the weather is average. Chris works in a warehouse, and he earns a flat rate of $200 per day, regardless of weather conditions. Suppose there is a 20% chance that tomorrow will be sunny, and 50% chance that the weather will be average, and a 30% chance of rain.    Determine tomorrow’s expected earnings for each of these 3 friends. Compute the standard deviation for Sara’s earnings.  Handwrite the solution

Three friends are trying to predict who will make more money at work tomorrow. John works construction: he will make $250 tomorrow unless it rains, in which case he will make $0. Sara works in a restaurant: she will earn $100 if it is sunny, $200 if it is rainy, and $250 if the weather is average. Chris works in a warehouse, and he earns a flat rate of $200 per day, regardless of weather conditions. Suppose there is a 20% chance that tomorrow will be sunny, and 50% chance that the weather will be average, and a 30% chance of rain.    Determine tomorrow’s expected earnings for each of these 3 friends. Compute the standard deviation for Sara’s earnings.  Handwrite the solution

MATLAB: An Introduction with Applications
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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Three friends are trying to predict who will make more money at work tomorrow. John works construction: he will make $250 tomorrow unless it rains, in which case he will make $0. Sara works in a restaurant: she will earn $100 if it is sunny, $200 if it is rainy, and $250 if the weather is average. Chris works in a warehouse, and he earns a flat rate of $200 per day, regardless of weather conditions. Suppose there is a 20% chance that tomorrow will be sunny, and 50% chance that the weather will be average, and a 30% chance of rain. 

 

  1. Determine tomorrow’s expected earnings for each of these 3 friends.
  2. Compute the standard deviation for Sara’s earnings. 

Handwrite the solution

Sunny Average Rainy John (Construction) $250 $250 $0 Sara (Restaurant) $100 $250 $200 Chris (Warehouse) $200 $200 $200
Transcribed Image Text:Sunny Average Rainy John (Construction) $250 $250 $0 Sara (Restaurant) $100 $250 $200 Chris (Warehouse) $200 $200 $200
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