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28 Sep 2019
You plan to pour concrete on Monday morning, but you heard a weather forecast that rain is expected. The probabilities of rain are 0.8 on Monday, 0.6 on Tuesday, 0.3 on Wednesday, and 0.1 on Thursday, Friday, Saturday, Sunday, and the following Monday and Tuesday. If it rains on the day that concrete is poured, there will be an immediate $10,000 damage cost and a delay of five days in the construction schedule. For every day of delay, $4000 is lost.
Determine on which day the concrete should be poured. What is the associated expected cost?
You plan to pour concrete on Monday morning, but you heard a weather forecast that rain is expected. The probabilities of rain are 0.8 on Monday, 0.6 on Tuesday, 0.3 on Wednesday, and 0.1 on Thursday, Friday, Saturday, Sunday, and the following Monday and Tuesday. If it rains on the day that concrete is poured, there will be an immediate $10,000 damage cost and a delay of five days in the construction schedule. For every day of delay, $4000 is lost.
Determine on which day the concrete should be poured. What is the associated expected cost?
Yusra AneesLv10
28 Sep 2019
