Compute the expected value-standard deviation

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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:

 

Outcome (millions)

Probability

Recession

20

.30

Normal Economy

40

.40

Strong Economy

60

.30

Compute the Expected Value, Standard Deviation, and Coefficient of Variation.

Reference no: EM133114809

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