A firm has decided to invest in a piece of land.Management has estimated that the land can be sold in 5 years for the following possible prices: $\begin{array} { l l }\text { Price }&\text { Probability }\ 10,000 & .20 \ 15,000 & .30 \ 20,000 & .40 \ 25,000 & .10 \end{array}$ (a) Determine the expected selling price for the land.
(b) Determine the standard deviation of the possible sales prices.
(c) Determine the coefficient of variation.

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The Answer of A firm has decided to invest in a piece of land.Management has estimated that the land can be sold in 5 years for the following possible prices: $\begin{array} { l l }\text { Price }&\text { Probability }\ 10,000 & .20 \ 15,000 & .30 \ 20,000 & .40 \ 25,000 & .10 \end{array}$ (a) Determine the expected selling price for the land.
(b) Determine the standard deviation of the possible sales prices.
(c) Determine the coefficient of variation.

A Firm Has Decided to Invest in a Piece of Land.Management