The National Corp Reporting Service receives the accompanying information from the CIA on Russian wheat harvest....

The National Corp Reporting Service receives the accompanying information from the CIA on Russian wheat harvest. Russian demand for wheat is ~ 210 million metric tons. a) What is the probability that the harvest will be adequate? b) If U. S. exports make up the difference, what is the probability that the U. S. will have to sell more than 20 million metric tons to the Russians?

Millions of metric tons	Probability
< 170	0.05
170-180	0.15
180-190	0.23
190-200	0.31
200-210	0.15
210-220	0.07
>220	0.04

Expert Solution

orchestra answered 1 year ago

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