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(Solution Download) Hooper Chemical Company, a major chemical firm that uses such raw materials as carbon and petroleum


 

 

 

 

 

 

 

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

 

  Recession$20.30
  Normal economy40.40
  Strong economy60.30

 


 

 

 

 

 

 

 

 

a.

 

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.)

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Expected value$  million
  Standard deviation$  million
  Coefficient of variation    

 

      

 


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