Demand Levels
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Suppose the marketing manager at Cooke collectible has analyzed the possible demand levels and subjectively assessed the following probabilities for the various demand levels.
Demand level probability
20,000 0.10
40,000 0.30
60,000 0.40
80,000 0.20
1.00
Compute expected value
https://brainmass.com/statistics/probability/demand-level-criteria-16911
Solution Summary
Suppose the marketing manager at Cooke collectible has analyzed the possible demand levels and subjectively assessed the following probabilities for the various demand levels.
$2.49