Compute expected value for number of wheels on truck
Acme Truck manufactures 8 and 16 wheel vehicles. In 2010, 25% of trucks manufractured had 8 wheels and 75% of the trucks had 16 wheels. What is the expected value for the number of wheels on a truck manufactured by Acme Truck in 2010?
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Is ownership of an American Express card a categorical or quantitative variable?
On April 12, 2013, Montana Mining Co pays $3,721,000 for an ore deposit containing 1,525,000 tons. The company installs machinery in the mine costing $213,500, with an estimated seven-year life and no salvage value.
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75% of the trucks had 16 wheels. What is the expected value for the number of wheels on a truck manufactured by Acme Truck in 2010?
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