Problem $6-2($Algo$)$ Expected value $[$LO$6-6]$

Sharpe Knife Company expects sales next year to be $$1,740,000$ if the economy is strong, $ $$740,000$ if the economy is weak. Ms$.$ Sharpe believes there is a $20$ percent probability the probability of a steady economy, and a $25$ percent probability of a weak economy.

What is the expected level of sales for the next year?

Expected level of sales