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A contractor estimates that his completion times for a project, with their respective probabilities, are:Completion time (t)Probability10 days0.315 days0.222 days0.5a) What is the number of days expected for the completion of the project? What is its variance?b) If the profit U received by the contractor depends on the time of completion of the project, what is the expected value and the standard deviation of utility, if the latter is given by:1) U(t) = 7503 - 150t2) U(t) = 3t^2 7503EXPLAIN AL
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