A rice importer has three sources: Thailand, Vietnam, and China. Unfortunately, the annual amount of rice harvested is heavily dependent upon the amount of rainfall during the growing season. The tables below show probabilities and prices for wet, dry, and normal growing seasons. Rice is sold in tons.   PROBABILITIES Wet Dry Normal Thailand 0.5 0.2 0.3 Vietnam 0.6 0.3 0.1 China 0.4 0.4 0.2     Price per Pound ($) Wet Dry Normal Thailand 0.95 1.10 1.00 Vietnam 0.85 1.20 0.98 China 0.90 1.15 1.05 What is the EMV per ton of rice bought from Thailand?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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A rice importer has three sources: Thailand, Vietnam, and China. Unfortunately, the annual amount of rice harvested is heavily dependent upon the amount of rainfall during the growing season. The tables below show probabilities and prices for wet, dry, and normal growing seasons.

Rice is sold in tons.

 

PROBABILITIES

Wet

Dry

Normal

Thailand

0.5

0.2

0.3

Vietnam

0.6

0.3

0.1

China

0.4

0.4

0.2

 

 

Price per Pound ($)

Wet

Dry

Normal

Thailand

0.95

1.10

1.00

Vietnam

0.85

1.20

0.98

China

0.90

1.15

1.05

What is the EMV per ton of rice bought from Thailand?

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