The budgeting process for a midwestern college resulted in expense forecasts for the coming year (in...

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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, the following 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. x f(x) 9 10 11 12 13 b. What is the expected value of the expense forecast for the coming year? $ million c. 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? S million 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, the following 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. x f(x) 9 10 11 12 13 b. What is the expected value of the expense forecast for the coming year? $ million c. 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? S million