A city projects for the next year that there is a 20% chance that

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gregorybrandt

New member
electronics jobs will increase by 1200, a 50? A city projects for the next year that there is a 20% chance that electronics jobs will increase by 1200, a 50% chance that they will increase by 500 , and a 30% chance that they will decrease by 800. What is the expected change in the number of electronic jobs in that city in the next year?
 
Multiply the corresponding change by the probability and add them to get the expected change = 1200(.2) + 500(.5) - 800(.3) = 240 + 250 - 240 = 250.

The expected increase is therefore 250.
 
Multiply the corresponding change by the probability and add them to get the expected change = 1200(.2) + 500(.5) - 800(.3) = 240 + 250 - 240 = 250.

The expected increase is therefore 250.
 
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