12-7 SCENARIO ANALYSIS Huang Industries is considering a proposed project whose estimated NPV is $12 million. This estimate assumes that economic conditions will be "average." However, the CFO realizes that conditions could be better or worse, so she performed a scenario analysis and obtained these results: Economic Scenario Probability of Outcome NPV Recession 0.05 0.20 0.50 Below average Average Above average Boom ($ 70 million) (25 million) 12 million 20 million 30 million 0.20 0.05 Calculate the project's expected NPV, standard deviation, and coefficient of variation. 12-8 NEW PROFCT ANALYSIS You must evaluate the purchase of a proposed spectrometer for