Compute the expected value

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Question - Hooper Chemical Company, a major chemical firm that uses such raw materials as carbon and petroleum as part of its production process, is examining a plastics firm to add to its operations. Before the acquisition, the normal expected outcomes for the firm were as follows:

Outcomes ($ millions) Probability

Recession $30 0.1

Normal economy 50 0.3

Strong economy 70 0.6

Required - Compute the expected value, standard deviation, and coefficient of variation prior to the acquisition.

Reference no: EM132963466

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