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Using the following projections for your business, show Probability Distribution of Annual Sales Probability Sales (millions) 0.6 300 0.05 450 0.2 400 0.1 425 0.05
Using the following projections for your business, show
Probability Distribution of Annual Sales
Probability | Sales (millions) |
0.6 | 300 |
0.05 | 450 |
0.2 | 400 |
0.1 | 425 |
0.05 | 470 |
Total = 1 |
A. Calculate the expected value of your annual sales.
B. Calculate the variance of your companys annual sales.
C. Calculate the standard deviation of your annual sales.
D. Interpret your findings from question a, b and c.
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