Question: 5. This question relates to the Data Plan Example covered in Sessions 1 and 2. The old plan refers to the Family Share plan, and

5. This question relates to the Data Plan Example

5. This question relates to the Data Plan Example covered in Sessions 1 and 2. The "old plan refers to the "Family Share" plan, and the "new plan refers to the "Superior Share" plan. You can answer this question without using Excel. You should involve Excel only if you cannot answer this questions otherwise. John Datum is another customer of the same wireless company. Just like our consultant, John is trying to compare the old plan and the new plan. Having looked at his past monthly data usage values, John, unlike our consultant, has decided to use a simple scenario approach to model his future data usage. In particular, John estimates that his monthly data usage (in GB) can take one of three values, 1 = 15, 2 = 21 and Uz = 24, each value being equally likely (i.e., each having a probability of 1/3 associated with it). What is the expected value of John's monthly payments, in $, under the old plan? 150 195 180 225 200 5. This question relates to the Data Plan Example covered in Sessions 1 and 2. The "old plan refers to the "Family Share" plan, and the "new plan refers to the "Superior Share" plan. You can answer this question without using Excel. You should involve Excel only if you cannot answer this questions otherwise. John Datum is another customer of the same wireless company. Just like our consultant, John is trying to compare the old plan and the new plan. Having looked at his past monthly data usage values, John, unlike our consultant, has decided to use a simple scenario approach to model his future data usage. In particular, John estimates that his monthly data usage (in GB) can take one of three values, 1 = 15, 2 = 21 and Uz = 24, each value being equally likely (i.e., each having a probability of 1/3 associated with it). What is the expected value of John's monthly payments, in $, under the old plan? 150 195 180 225 200

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