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The Alonso Corporation has forecasted to sell the following units of copper cables, at prices indicated, under three different economic conditions. The probability of each
The Alonso Corporation has forecasted to sell the following units of copper cables, at prices indicated, under three different economic conditions. The probability of each outcome is shown below.
Outcome | Probability | Units | Price | ||
A | 0.30 | 200 | $ | 15 | |
B | 0.50 | 320 | 30 | ||
C | 0.20 | 410 | 40 | ||
What is the expected value of the total sales projection?
Outcome | Total Sales | ||
A | $ | ||
B | |||
C | |||
Total expected value | $ | ||
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