A consultant is beginning work on three projects. The expected profits from these projects are $50,000, $72,000,

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A consultant is beginning work on three projects. The expected profits from these projects are $50,000, $72,000, and $40,000. The associated standard deviations are $10,000, $12,000, and $9,000. Assuming independence of 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: 9780132745659

8th Edition

Authors: Paul Newbold, William Carlson, Betty Thorne

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