Question
Gibson Manufacturing Corporation expects to sell the following number of units of steel cables at the prices indicated, under three different scenarios in the economy.
Gibson Manufacturing Corporation expects to sell the following number of units of steel cables at the prices indicated, under three different scenarios in the economy. The probability of each outcome is indicated.
| Outcome | Probability | Units | Price | |
| A | 0.30 | 285 | $32 | |
| B | 0.40 | 490 | 47 | |
| C | 0.30 | 750 | 57 | |
What is the expected value of the total sales projection?
Total expected value $
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Financial Crime Investigation And Control
Authors: K. H. Spencer Pickett, Jennifer M. Pickett
1st Edition
0471203351, 9780471203353
