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In planning farm operations for the current year, a farmer can choose from two crops, A and B. The profits (in dollars) of the crops depend on the amount of rainfall according to the following table.
Rainfall CROP A CROP B
Heavy $7,500 $3,000
Moderate $3,500 $3,000
Light $1,500 $5,000
The farmer estimates the chance of heavy rainfall to be 20%, moderate rainfall 35%, and light rainfall as 45%. What crop should the farmer plant? why or why not?
Show all your work. Explain your answer using the relevant equations. Your explanation determines your grade
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