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Refer to the Following :A Firm Making Production Plans Believes

Question 3

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refer to the following :A firm making production plans believes there is a 30% probability the price will be $10, a 50% probability the price will be $15, and a 20% probability the price will be $20. The manager must decide whether to produce 6,000 units of output (A) , 8,000 units (B) or 10,000 units (C) . The following table shows 4 possible outcomes depending on the output chosen and the actual price.refer to the following :A firm making production plans believes there is a 30% probability the price will be $10, a 50% probability the price will be $15, and a 20% probability the price will be $20.  The manager must decide whether to produce 6,000 units of output (A) , 8,000 units (B)  or 10,000 units (C) .  The following table shows 4 possible outcomes depending on the output chosen and the actual price.  -What is the coefficient of variation for this distribution? A)  1.67 B)  0.675 C)  18.6 D)  0.147 E)  1.03
-What is the coefficient of variation for this distribution?


A) 1.67
B) 0.675
C) 18.6
D) 0.147
E) 1.03

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