Hooper Chemical Company, a major chemical firm that uses such raw materials as c

Question

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

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.)

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:

Explanation / Answer

Expected value........................................

43.0 ($ millions)

Standard deviation..................................

27.2 ($ millions)

Coefficient of variation...........................

.633

Expected value........................................

43.0 ($ millions)

Standard deviation..................................

27.2 ($ millions)

Coefficient of variation...........................

.633

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