Calculate expected sales increase and standard deviation

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Reference no: EM13134985

In the past an autoobile repair shop owner has noticed that sales increased ats certain economic indicators decreased. Based on forecasts of these economics indicators and past observations, the owner has assigned probabilities to sales increases as follows:

Sales increase Probability
5% 0.05
10% 0.15
15% 0.35
20% 0.30
25% 0.15

Calculate the expected sales increase and the standard deviation.

Reference no: EM13134985

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