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Sufia is preparing a report for next week's planning meeting and, based on the research, she assigns the following probabilities to next year's sales: Scenario

Sufia is preparing a report for next week's planning meeting and, based on the research, she assigns the following probabilities to next year's sales:

Scenario Probability Sales ($ Millions)
1 0.10 $16
2 0.25 $15
3 0.30 $14
4 0.35 $13

a. Find Sufia's expected value for next year's sales. b. Find the variance and standard deviation.

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