Question: The budgeting process For a midwestern collage resulted in expense forcasts for the comming year in millions $ 9 , $ 1 0 , $

The budgeting process For a midwestern collage resulted in expense forcasts for the comming year in millions $9, $10, $11, $12, and $13 expenses are unknown so the following probablilities are assigned .3,.2,.05,.25, and .2
(a) Show the probability distribution for the expense forecast.
\table[[x,],[9,],[10,],[11,],[12,],[13,]]
(b) What is the expected value (in $ millions) of the expense forecast for the coming year?
EE 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, comment on the financial position of the college. With this estimate, the college can expect a profit (in $ million) of $ million. From the assigned probability, there is chance that expenses will equal $13 million causing the college to run a - Select-.
 The budgeting process For a midwestern collage resulted in expense forcasts

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