Question

In a certain city, projections for the next year indicate there is a 20% chance that electronics jobs will increase by 1000, a 50% chance that they will increase by 600, and a 30% chance they will decrease by 800. Find the expected change in the order of electronics jobs in that city in the next year. The expected change is an increase of ____ jobs.

Answer 1

In this case, we'll have to carry out several steps to find the solution.

Step 01:

Data:

Electronics jobs

20% ===> +1000

50% ===> +600

30% ===> -800

expected change = ?

Step 02:

Expected change

`E\text{ (electronics jobs) = 1000}\cdot0.2+600\cdot0.5-800\cdot0.3`

E (electronics jobs) = 200 + 300 - 240 = 260 jobs

The answer is:

The expected change is an increase of 260 jobs.​