Baby Pty Ltd. is planning to launch a new brand of makeup product. Based on market research,

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Baby Pty Ltd. is planning to launch a new brand of makeup product. Based on market research, if sales are high they can make a profit of $18.5 million per year. If sales are 'so so' they can make a profit of $8.9 million per year. Finally, if sales are low they can lose $3.8 million per year. The probability that sales will be high is 0.51. The probability that sales will be 'so so' is 0.24. Calculate thevariance of profit for the new brand of makeup product (in $ millions²). Give your answer to two decimal places.

Posted Date: May 19, 2024 02:16 AM

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Baby Pty Ltd. is planning to launch a new brand of makeup product. Based on market research,

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