If the payoff of a risky investment has three possible outcomes ($1000, $2000, $5000) with probabilities .60, .30, and .10 respectively, find the expected value. a. $1500 b. $2300 c. $1700 Assuming...

If the payoff of a risky investment has three possible outcomes ($1000, $2000, $5000) with probabilities .60, .30, and .10 respectively, find the expected value. a. $1500 b. $2300 c. $1700

Assuming independent arrivals with a mean of 2.5 arrivals per minute, find the probability that in a given minute there will be (a) exactly 2 arrivals; (b) at least 3 arrivals; (c) fewer than 4 arrivals. (d) Which probability distribution did you use and why?