Problem
For the data , assume that the optimistic probability is 20%, the most likely is 50%, and the pessimistic is 30%.
(a) What is the expected value of the equivalent uniform annual cost?
(b) Compute the expected value for the number of miles, and the corresponding equivalent uniform annual cost.
(c ) Do the answers to (a) and (b) match? Why or why not?
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.