Business, 03.12.2019 22:31, hewonabi123
Apaint company has three sources for buying bright red pigment for their paints: vietnam, taiwan, or thailand. unfortunately, the pigment is made from a bush whose annual growth is heavily dependent upon the amount of rainfall during the growing season. the tables below show probabilities and prices for wet, dry and normal growing seasons: probabilities wet dry normalvietnam .5 .2 .3taiwan .6 .3 .1thailand .4 .4 .2 price/pound ($) wet dry normalvietnam .95 1.10 1.00taiwan .85 1.20 .98thailand .90 1.15 1.05what is the expected value (price) associated with the selected firm?
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