Problem
You need to hire some new employees to staff your start- up venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: What is the expected value of five employees you hire?
|
Employee Value
|
Probability
|
|
$ 50,000
|
0.25
|
|
$ 60,000
|
0.25
|
|
$ 70,000
|
0.25
|
|
$ 80,000
|
0.25
|
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.