Question: A candidate must decide whether he should spend his time and money on TV commercials or making personal appearances. His staff determines that by using

A candidate must decide whether he should spend his time and money on TV commercials or making personal appearances. His staff determines that by using TV he can reach 100,000 people with probability 0.01, 50,000 people with probability 0.47, and 25,000 people with probability 0.52; by making personal appearances he can reach 80,000 people with probability 0.02, 50,000 people with probability 0.47, and 20,000 people with probability 0.51. In the tables, x represents the number of people reached by each choice. In each case, find the expected value of x to decide which method will reach more people.
TV Commercials Personal Appearances Pr(x) х Pr(x) 0.01 0.47 25,000 0.52 х 100,000 50,000 0.02 0.47 0.51 80,000 50,000

TV Commercials Personal Appearances Pr(x) Pr(x) 0.01 0.47 25,000 0.52 100,000 50,000 0.02 0.47 0.51 80,000 50,000 20,000

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