The Widget Company has estimated the following revenue possibilities f
The Widget Company has estimated the following revenue possibilities for the year:
Sales Probability
100 0.15
150 0.20
220 0.30
290 0.20
310 0.15
a. Find expected revenue.
b. Find the standard deviation.
c. Find the coefficient of variation.
ANSWER
a. Expected revenue is $215.50.
b. Standard deviation = 72.90
c. Coefficient of variation = 0.34
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