Find probability distribution for first cost per kilometer

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Reference no: EM132171413

Question: A railroad between Fairbanks and the Brooks Range in Alaska will have a most likely construction cost $900,000 per kilometer. If there is more permafrost than estimated (probability of .3), then the cost will increase by 40%. If there is less permafrost than estimated (probability of .2), then the cost will decrease by 25%. What is the probability distribution and the expected value for the first cost per kilometer?

Reference no: EM132171413

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