(Table: Income and Utility for Tyler) Use Table: Income and Utility for Tyler.The table shows the utility Tyler receives at various income levels,but she does not know what her income will be next year.There is a 40% chance her income will be $20,000,a 40% chance her income will be $30,000,and a 20% chance her income will be $40,000.What is her expected income?

A) $28,000
B) $29,000
C) $30,000
D) $31,000

Certain Income

refers to money or revenue that is guaranteed or highly likely to be received, with minimal risk of variation or loss.

Expected Income

The amount of money one anticipates earning over a specific period, considering various factors like salary, investments, and other income sources.

Probability

An indicator of the probability that a particular event will happen, denoted as a value ranging from 0 to 1.