A projects first cost is $25,000, and it has nosalvage
Chapter , Problem 10-60(choose chapter or problem)
A projects first cost is $25,000, and it has nosalvage value. The interest rate for evaluation is7%. The projects life is from a discrete uni-form distribution that takes on the values 7,8, 9, and 10. The annual benefit is normallydistributed with a mean of $4400 and a stan-dard deviation of $1000. Using Excels RANDfunction, simulate 25 iterations. What are theexpectedvalue and standarddeviation of the presentworth?
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