Questions: Suppose they choose the first plan, the flat rate of 5 cents per kWh. What will be their expected monthly bill? 300 329 339 401

Suppose they choose the first plan, the flat rate of 5 cents per kWh. What will be their expected monthly bill? 300 329 339 401
Transcript text: Suppose they choose the first plan, the flat rate of 5 cents per kWh. What will be their expected monthly bill? 300 329 339 401
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Solution

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Solution Steps

Step 1: Calculate the Expected Monthly Bill

The retailer's expected monthly bill under the first plan, which charges a flat rate of 5 cents per kWh, can be calculated using the formula:

\[ \text{Expected Monthly Bill} = \text{Mean kWh Usage} \times \text{Flat Rate per kWh} \]

Given:

  • Mean kWh Usage = \(6000\) kWh
  • Flat Rate per kWh = \(0.05\) dollars (5 cents)

Substituting the values:

\[ \text{Expected Monthly Bill} = 6000 \times 0.05 = 300 \]

Step 2: Present the Result

The expected monthly bill is calculated to be \(300\) dollars.

Final Answer

\(\boxed{300}\)

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