CH 2200 Lecture 10: Chinese common words 63

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?

How much weight does this individual lose over the five day period?

Libby is an hourly employee who earns $14.32/hour. She is paidovertime only for hours worked past 40 in one week. During a weeklypay period, she worked the following hours:

What is the difference between her pay using the quarter-hourand the hundredth-hour methods? Which method pays Libby the greateramount? (Do not round interim calculations. Round finalanswer to two decimal places.)