A manager faces the following two probability distributions for sales Sales Dist
ID: 1199013 • Letter: A
Question
A manager faces the following two probability distributions for sales
Sales
Distribution 1
Probability
Distribution 2
Probability
2,000
0.05
0.05
3,000
0.20
0.15
4,000
0.50
0.20
5,000
0.20
0.35
6,000
0.05
0.25
For Distribution 1, the expected sales are $4,000 . For Distribution 2, the expected sales are $4,600.
b. For Distribution 1, the variance is $894.43. For Distribution 2, the variance is $1,126.06.
c. For Distribution 1, the standard deviation is ______________. For Distribution 2, the standard deviation is ______________.
d. Distribution ____ is the riskier of the two distributions of sales.
e. For Distribution 1, the coefficient of variation is ______________. For Distribution 2, the coefficient of variation is ______________. Distribution _____ has the greater level of risk relative to its mean
Sales
Distribution 1
Probability
Distribution 2
Probability
2,000
0.05
0.05
3,000
0.20
0.15
4,000
0.50
0.20
5,000
0.20
0.35
6,000
0.05
0.25
Explanation / Answer
A manager faces the following two probability distributions for sales Sales Dist
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