Economics question. Please provide answer ASAP! Will provide thumbs up! The present worth of an investment...
Economics question. Please provide answer ASAP! Will provide thumbs up!
The present worth of an investment project is described
by the following equation:
PW = 20X + 8XY
where X and Y are statistically independent discrete random variables with the following PDFs:
PDF of X
|
Value |
Probability |
|
$ 37 |
0.6 |
|
$ 68 |
0.4 |
PDF of Y
|
Value |
Probability |
|
$ 34 |
0.4 |
|
$ 35 |
0.6 |
Calculate the mean of the project's PW
(Note: Don't use the $ in your answer and round it to 2 decimal places)
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Please answer correctly, don't rush. I will give a thumbs up if
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