Hooper Chemical Company, a major chemical firm that uses such raw materials as carbon and petroleum as part of its production process, is examining a plastics firm to add to its operations. Before the acquisition, the normal expected outcomes for the firm were as follows:

	Outcomes ($ millions)			Probability
Recession	$	40			0.2
Normal economy		50			0.4
Strong economy		80			0.4

Compute the expected value, standard deviation, and coefficient of variation prior to the acquisition. (Do not round intermediate calculations. Enter your dollar answers in millions rounded to 2 decimal places (e.g., $12,300,000 should be entered as "12.30"). Round the coefficient of variation to 3 decimal places.)

EXPECTED VALUE		MILLIONS
STANDARD DVIATION		MILLIONS
COEFFIECENT OF VARIATION		MILLIONS

Answer rating: 100% (QA)

Outcome O Probability P O P Er P Outcom... View the full answer