A contractor wants to rent a wood chipper from Acme Rental for a day for $118 plus $11 per hour or from Bell Rental for a day for $128 plus $9 per hour. Find a cost function in dollars for using each rental firm. (Let x be the number of hours for which the wood chipper is rented.) Acme C(x)

-- Acme

--- Bell

Step-by-step explanation:

Given

Acme:

Bell:

Required

Determine the cost function for both

The cost function can be determined using the following illustrations:

Daily Rate + Hourly Rate * Number of Hours

Represent the number of hours with x

So, we have:

For Acme:

For Bell:

answer: expected value of x = 1.0

step-by-step explanation:

p(x=0) = 0.25

p(x=1) = 0.50

p(x=2) = 0.25

expected value for x = 0×0.25 + 1×0.5 + 2×0.25 = 1.0