Estimate the sales for the next year

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Reference no: EM131984642

Sharpe Knife Company expects sales next year to be $1,580,000 if the economy is strong, $840,000 if the economy is steady, and $580,000 if the economy is weak.

Mr. Sharpe believes there is a 10 percent probability the economy will be strong, a 45 percent probability of a steady economy, and a 45 percent probability of a weak economy.

What is the expected level of sales for the next year?

Reference no: EM131984642

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