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You need to hire some new employees to staff your startup venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them:

                Employee Value                 Probability

                        $50,000                       .25

                        60,000                         .25

                        70,000                         .25

                        80,000                         .25

What is the expected value of employees you hire?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9743659

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