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Distributed throughout the population

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Reference no: EM131113035

You need to hire some new employees to staff your start-up venture. You know that potential employees are distributed throughout the population as follows, but can't distinguish among them:

Employee Value                         Probability

$50,000                                              0.25

$60,000                                               0.25

$70,000                                                0.25

$80,000                                                0.25

What is the expected value of five employees you hire?

Froeb, McCann et al. managerial economics, 4th edition

Reference no: EM131113035

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