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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:
\table[[,Outcomes],[, millions),Probability,],[Recession,$20,0.30,],[Normal economy,40,0.40,],[Strong economy,60,0.30,]]
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 2 decimal places (e.g., $12,300,000 should be entered as "12.30"). Round the coefficient of variation to 3 decimal places.
\table[[Expected value,million],[Standard deviation,million],[Coefficient of variation,]]
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