The cost of developing internal training program for office automation is unknown but stated by following probability distribution:
Cost ($) Probability of Occurrence
80,000 0.20
95,000 0.30
105,000 0.25
115,000 0.20
130,000 0.05
Determine the expected cost of the course? What is the most probable cost? What is the maximum cost that will occur with a 95% assurance?