Mathematics, 21.10.2020 02:01 jallison61
A farmer has found that in a typical year they earn $75000 from their harvest. In a wet year they earn $48000, and in a drought they earn $26000. If the probability of a wet year is 0.30 and the probability of a drought is 0.20 find the mean amount this farmer will make from their harvest over a long period of years. If the farmer has the option of buying insurance for $2000 a year that pays $20000 in a year of a drought, does it make sense financially to buy the insurance? Justify.
Answers: 1
Mathematics, 21.06.2019 22:00, krandall232
Match the scale and the actual area to the area of the corresponding scale drawing. scale: 1 inch to 4 feet actual area: 128 square feet scale: 1 inch to 7 feet actual area: 147 square feet scale: 1 inch to 8 feet actual area: 256 square feet scale: 1 inch to 5 feet actual area: 225 square feet area of scale drawing scale and actual area scale drawing area: 3 square inches arrowright scale drawing area: 8 square inches arrowright scale drawing area: 4 square inches arrowright scale drawing area: 9 square inches arrowright
Answers: 2
A farmer has found that in a typical year they earn $75000 from their harvest. In a wet year they ea...
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