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1- The level of income depends on famer work and it varied according to the rate of rainfall, the following table showing two alternatives of the agricultural work, determine the level of the risk from each alternative by: a- using the expected value method, b- using the standard deviation c- using Coefficient of variation method, and for each one show which alternative will you choose? Table: Farmer income at different level of rainfall and with different probabilities State (Rainfall rate) Low Alternative A High Moderate 0.5 0.2 Income (JD/Year) Prob. Income Prob. Income 30000 0.3 25000 Alternative B 20000 0.2 0.5 0.3 50000 25000 0 1- The level of income depends on famer work and it varied according to the rate of rainfall, the following table showing two alternatives of the agricultural work, determine the level of the risk from each alternative by: a- using the expected value method, b- using the standard deviation c- using Coefficient of variation method, and for each one show which alternative will you choose? Table: Farmer income at different level of rainfall and with different probabilities State (Rainfall rate) Low Alternative A High Moderate 0.5 0.2 Income (JD/Year) Prob. Income Prob. Income 30000 0.3 25000 Alternative B 20000 0.2 0.5 0.3 50000 25000 0
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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
Posted Date:
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