The net revenue R for a newly developed antifungal spray for citrus fruit is expected to be $3.1 million per year for the next 5 years. This expected amount is based on estimates that R could be $2.6, $2.8, $3.0, $3.2, $3.4 million, all with the same probability, or $3.6 million with half the probability of the other values.

(a) Write the probability statements for each of the estimates.

(b) Determine the expected value of R.