Question: Paradise Real-estate developer is considering building a condominium project. Five different sizes are being considered. The probabilities reflect the company's belief that the profit will
Paradise Real-estate developer is considering building a condominium project. Five different sizes are being considered. The probabilities reflect the company's belief that the profit will be realized (e.g., there is a 20% chance that a $4.2 million profit will result if the 30 unit condominium is built).
| Condominium size | Probability | Net Profit (Millions $) |
| 10 units | 0.1 | 2.1 |
| 20 units | 0.3 | 3.5 |
| 30 units | 0.2 | 4.2 |
| 40 units | 0.05 | 4.4 |
| 50 units | 0.35 | 5.9 |
What is the standard deviation for expected profit?
a. 1.2519
b. 1.5673
c. 2.4564
d. 1.4321
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