Problem
Assume that the pessimistic and optimistic estimates in Problem 10-6 have 40% and 20% probabilities, respectively.
(a) What is the expected PW the expansion costs?
(b) What is the expected number of years until the expansion?
(c) What is PW of the expansion cost using the expected number of years until the expansion?
(d) Do your answers to (a) and (c) match? If not, 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.