Question

In a certain city, projections for the next year indicate there is a 20% chance that electronics jobs will increase by
Find the expected change in the number of electronics jobs in that city in the next year.

1000,

a 50% chance that they will increase by
300,

and a 30% chance they will decrease by
700.

The expected change is an increase of _

jobs.

jobs.

Step 1

**Explanation:**

The probability of electronics jobs increasing by 1,000 is 20% or 0.2.

The probability of electronics jobs increasing by 300 is 50% or 0.5.

The probability of electronics jobs decreasing by 700, or in other words, increasing by –700 is 30% or 0.3.

If we denote *X* as the amount of increase and *p* (*x*) as the probability for the corresponding value of *X*, then *X* takes values 1,000, 300 and –700 with respective...

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