You need to hire some new employees to staff your start-up, Business Economics

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You need to hire some new employees to staff your start-up

You need to hire some new employees to staff your start-up venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them:

Employee value Probablity

$50,000 .25

$60,000 .25

$70,000 .25

$80,000 .25

What is the expected value of five employees you hire?

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Business Economics: You need to hire some new employees to staff your start-up

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Business Economics: You need to hire some new employees to staff your start-up

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