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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:
tableOutcomes millionsProbability,Recession$Normal economy,Strong economy,
Compute the expected value, standard deviation, and coefficient of variation prior to the acquisition.
Note: Do not round intermediate calculations. Enter your dollar answers in millions rounded to decimal places eg $ should be entered as Round the coefficient of variation to decimal places.
tableExpected value,millionStandard deviation,millionCoefficient of variation,
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