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Monarch King Size Beds Ltd. is evaluating a new promotional campaign that could increase sales. Possible outcomes and probabilities of the outcomes are shown below.
Monarch King Size Beds Ltd. is evaluating a new promotional campaign that could increase sales. Possible outcomes and probabilities of the outcomes are shown below.
Possible Outcomes | Additional Sales in Units | Probabilities | ||||
Ineffective campaign | 50 | 0.70 | ||||
Normal response | 100 | 0.20 | ||||
Extremely effective | 150 | 0.10 | ||||
Compute the coefficient of variation. (Round the final answer to 2 decimal places.)
Coefficient of variation
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