Find the expected size of the agency fee

Reference no: EM131805667

Question: Your firm's total advertising budget has been set for the year. You (as marketing manager) expect to spend about $1,500,000 on TV commercials, with an uncertainty of $200,000 as the standard deviation. Your advertising agency collects a fee of 15% of this budget. Find the expected size of your agency's fee and its level of uncertainty.

Reference no: EM131805667

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