Find the expected value for the annual savings

Reference no: EM132171418

Question: Annual savings in labor costs due to an automation project have a most likely value of $35,000. The high estimate of $45,000 has a probability of .1, and the low estimate of $30,000 has a probability of .2. What is the probability distribution and the expected value for the annual savings?

Reference no: EM132171418

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