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A soft drink company has created a new soft drink and decided it is time to start selling it.They estimate that if sales are excellent
A soft drink company has created a new soft drink and decided it is time to start selling it.They estimate that if sales are excellent they can make a profitof $23.5 million per year. If sales are good they can make a profit of $6.4 million per year. Finally, if sales are poor they can lose $2.5 million per year.The probability that sales will be excellent is 0.53. The probability that sales will be good is 0.23. Calculate thevariance of the profit for the new soft drink (in $ millions2). Give your answer to two decimal places.
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