In Problem 34, the director of career advising at Orange Community College has paid a small fee to a local investment firm to indicate a probability for each future economic condition over the next 5 years. The firm estimates that there is a .20 probability of a recession, a .40 probability that the economy will be average, a .30 probability that the economy will be good, and a .10 probability that it will be robust. Using expected value determine the best degree program in terms of projected income. If you were the director of career advising, which degree program would you recommend?

  • CreatedJuly 17, 2014
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