Gibson Manufacturing Corporation expects to sell the following number of units of steel cables at the...
Gibson Manufacturing Corporation expects to sell the following number of units of steel cables at the prices indicated, under three different scenarios in the economy. The probability of each outcome is indicated.
| Outcome | Probability | Units | Price | |
| A | 0.40 | 240 | $23 | |
| B | 0.30 | 400 | 38 | |
| C | 0.30 | 570 | 48 | |
What is the expected value of the total sales projection?
Total expected value $
Homework Answers
rate positively ..
| i | ii | iiii | iv=ii*iii | v=iv*i | |
| Outcome | Probability | Units | Price | Sales value | expected sales |
| A | 0.4 | 240 | $23 | $5,520 | $2,208 |
| B | 0.3 | 400 | 38 | $15,200 | $4,560 |
| C | 0.3 | 570 | 48 | $27,360 | $8,208 |
| Expected return | $14,976 | ||||
| therfore Total expected value = | $14,976 | ||||
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Gibson Manufacturing Corporation expects to sell the following
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1. Gibson Manufacturing Corporation expects to sell the following number of units of steel cables at...
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Please show the functions that are required as well as what to enter into each function to get the correct output. excel is preferred over hand written. 4 ABC Manufacturing expects to sell 1,025 u...
Please show the functions that are required as well as what to
enter into each function to get the correct output. excel is
preferred over hand written.
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