Find the Expected Value of an Action

question 22

Multiple Choice

Find the expected value of an action.
-A farm owner in upstate New York who grows summer vegetables (e.g. tomatoes)
Must decide whether to employ additional pickers this season. If he does, he could hire
Either migrant workers or local teenagers who need summer employment. The migrant
Workers are more experienced, faster, but more expensive. Although the teenagers will
Work for less, they lack experience and tend to damage plants and produce. His profits
Depend on the growing season as shown below. Suppose the farmer's almanac predicts
The probability of a good growing season this year to be .75. What is the expected value
Of hiring teenagers?

• A) $62,500
• B) $52,500
• C) $46,250
• D) $12,990
• E) None of the above.

---

Definitions:

Glomerular Filtration

is the process by which the kidneys filter the blood, removing excess wastes and fluids.

Tubular Secretion

The process by which substances are actively transported from blood into the urine within the kidneys.

Tubular Reabsorption

The process in the kidneys where substances are moved from the tubular fluid back into the blood, conserving water, electrolytes, and nutrients.

Renal Column

Parts of the kidney's tissue that extend between the pyramids, containing blood vessels and urinary tubes, and serving as a supportive structure for the cortex.