Probability distribution of building a cafe at Location A Profit (x) 1,000,000 -2,000,000 P(x) .80 .20 Probability distribution of building a cafe at Location B Profit (x) 500,000 -2,000,000 P(x) .95 .05 Given the above data, where should the cafe be built? Justify your answer.
Probability distribution of building a cafe at Location A Profit (x) 1,000,000 -2,000,000 P(x) .80 .20 Probability distribution of building a cafe at Location B Profit (x) 500,000 -2,000,000 P(x) .95 .05 Given the above data, where should the cafe be built? Justify your answer.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Probability distribution of building a cafe at Location A
Profit (x) | 1,000,000 | -2,000,000 |
P(x) | .80 | .20 |
Probability distribution of building a cafe at Location B
Profit (x) | 500,000 | -2,000,000 |
P(x) | .95 | .05 |
Given the above data, where should the cafe be built? Justify your answer.
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