A factorys power bill is $55,000 a year. The firstcost of
Chapter , Problem 10-61(choose chapter or problem)
A factorys power bill is $55,000 a year. The firstcost of a small geothermal power plant is normallydistributed with a mean of $150,000 and a stan-dard deviation of $50,000. The power plant has nosalvage value. The interest rate for evaluation is8%. The projects life is from a discrete uni- form distribution that takes on the values 3, 4, 5,6, and 7. (The life is relatively short due to cor- rosion.) The annual operating cost is expected tobe about $10,000 per year. Using Excels RANDfunction, simulate 25 iterations. What are theexpectedvalue and standarddeviation of the presentworth?
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