P13-4 (similar to) Question Help (Related to Checkpoint 13.3) (Forecasting revenues using scenario analysis) Floating Homes, Inc. is a manufacturer of luxury pontoon and house boats that sell for $40,000 to $100,000. To estimate its revenues for the following year, Floating Homes divides its boat sales into three categories based on selling price (high, medium, and low) and estimates the number of units it expects to sell under three different economic scenarios. These scenarios include a recession (Scenario I), a continuation of current conditions in which the economy is level (Scenario II), and a strong economy (Scenario III). These estimates are given here: 3. Using these estimates, calculate the expected revenue for Floating Homes, Inc. for the following year. The expected revenue for Floating Homes, Inc. for the following year is $ (Round to the nearest dollar.) Scenario Scenario II Scenario III (Recession) (Level Economy) (Strong Economy) Probability 23% 47% 30% High-Priced Boats Category Unit sales 65 410 1,025 Average price per unit $91,000 $91,000 $91,000 Medium-Priced Boats Category Unit sales 110 800 4,975 Average price per unit $71,000 $71,000 $71,000 Low-Priced Boats Category Unit sales 210 1,500 4,975 Average price per unit $47,000 $47,000 $47,000 (Click on the icon in order to copy its contents into a spreadsheet.)