Allen Abbott has a wide-curving, uphill driveway leading to his garage. When there is a heavy snow,

Question:

Allen Abbott has a wide-curving, uphill driveway leading to his garage. When there is a heavy snow, Allen hires a local carpenter, who shovels snow on the side in the winter, to shovel his driveway. The snow shoveler charges $30 to shovel the driveway. Following is a probability of the number of heavy snows each winter:
Heavy Snows .......... Probability
1 ............... .13
2 ............... .18
3 ............... .26
4 ............... .23
5 ............... .10
6 ................ .07
7 ................ .03
1.00
Allen is considering purchasing a new self-propelled snowblower for $625 that would allow him, his wife, or his children to clear the driveway after a snow. Discuss what you think Allen’s decision should be and why.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...