What is the probability distribution and the expected value, Microeconomics

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What is the probability distribution and the expected value

Problem

Over the last 10 years, the hurdle or discount rate for projects from the Advanced Materials Division of Spartech has been 15% three times, 25% twice, and 20% the rest of the time. There is no recognizable pattern. What is the probability distribution and the expected value for next year's discount rate?

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.

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