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The management of the Cambridge Company has projected the sales of its products (in millions of dollars) for the upcoming year, with the associated probabilities shown in the following table: Sales 20 22 24 26 28 30 Probability 0.05 0.10 0.35 0.30 0.15 0.05
a. What does the management expect the sales to be next year?
b. Compute the variance.
c. Compute the standard deviation.
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By using Scenario Manager in Excel and the data provided in the table below, create 4 scenarios for the number of items sold during each season (i.e. Spring, Summer, Fall, and Winter)
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Do you think that ithe current level of government regulations too high or too low? Do you generally support a laissez-faire approach to regulation.
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