Question
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 | $ | 20 | 0.1 | |||
Normal economy | 40 | 0.5 | ||||
Strong economy | 70 | 0.4 | ||||
Compute the expected value, standard deviation, and coefficient of variation prior to the acquisition. (Do not round intermediate calculations. Enter your dollar answers in millions rounded to 2 decimal places (e.g., $12,300,000 should be entered as "12.30"). Round the coefficient of variation to 3 decimal places.)
Hooper Chemical Company, a major chemical firm that uses such raw materials as carbon and petroleum as part of its production process, is examining a plastics firm to add to its operations. Before the acquisition, the normal expected outcomes for the firm were as follows:
Outcomes ($ millions) | Probability | |||||
Recession | $ | 20 | 0.1 | |||
Normal economy | 40 | 0.5 | ||||
Strong economy | 70 | 0.4 | ||||
Compute the expected value, standard deviation, and coefficient of variation prior to the acquisition. (Do not round intermediate calculations. Enter your dollar answers in millions rounded to 2 decimal places (e.g., $12,300,000 should be entered as "12.30"). Round the coefficient of variation to 3 decimal places.)
Expected value | |
Standard deviation | |
Coefficient of variation | |
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