Rotter partners is planning a major investmentnbspnbspa

Assignment Help Basic Statistics

Reference no: EM13608280

Rotter Partners is planning a major investment. A probabilistic estimate gives the following distribution(in millions of dollars):

Profit	1	1.5	2	3	10
Probability	.3	.2	.2	.2	?

a) Find the missing probability.

b) Find the mean and standard deviation.

c) What is the expected value of the profit? (Hint: use part b)

d) Is it unusual to have a profit of 10 million dollars?

e) Use probabilities to determine whether having a profit of 1.5 million dollars is an unusually low number.

Reference no: EM13608280

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