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What is the expected level of sales for next year

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Question - Mikey's Pipe and Steel company expects sales next year to be $800,000 if the economy is strong, $500,000 if the economy is steady, and $350,000 if the economy is weak. Gary believes there is a 20 percent probability the economy will be strong, a 50 percent probability of a steady economy, and a 30 percent probability of a weak economy.

What is the expected level of sales for next year?

Reference no: EM132081715

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