A consultant is beginning work on three projects. The expected profits from these projects are 65,000, 83,000,

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A consultant is beginning work on three projects. The expected profits from these projects are €65,000, €83,000, and €57,000. The associated standard deviations are €12,500, €17,200, and €11,300. By assuming independence of the outcomes, find the mean and standard deviation of the consultant’s total profit from these three projects.

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Related Book For  answer-question

Statistics For Business And Economics

ISBN: 9781292315034

9th Global Edition

Authors: Paul Newbold, William Carlson, Betty Thorne

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