Software company. A small software company will bid on a major contract. It anticipates a profit of

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Software company. A small software company will bid on a major contract. It anticipates a profit of $50,000 if it gets it, but thinks there is only a 30% chance of that happening.

a) What’s the expected profit?

b) Find the standard deviation for the profit.

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Business Statistics

ISBN: 9780321716095

2nd Edition

Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe

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Question Posted: Sep 06, 2024 11:03 AM

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Software company. A small software company will bid on a major contract. It anticipates a profit of

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Business Statistics

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