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Hooper Chemical Company, a major chemical firm that uses such raw materials as carbon and petroleum as part of its production process, is examining a

Hooper Chemical Company, a major chemical firm that uses such raw materials as carbon and petroleum as part of its production process, is examining a plastics firm to add to its operations. Before the acquisition, the normal expected outcomes for the firm were as follows:

Outcomes ($ millions) Probability
Recession $ 35 0.2
Normal economy 40 0.2
Strong economy 50 0.6

Compute the expected value, standard deviation, and coefficient of variation prior to the acquisition

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