Standard deviation of possible sales prices
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A firm has decided to invest in a piece of real estate. Management has estimated that the real estate can be sold in 5 years for the following possible prices:
Price Possibility
$20,000 .20
$25,000 .25
$30,000 .30
$35,000 .25
What is the standard deviation of possible sales prices?
(First determine expected sales price).
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Solution Summary
The solution calculates standard deviation of possible sales prices.
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Expected price = summation of pi Xi
Sale price (Xi) Probability (Pi) Pi Xi
$20,000 0.2 $4,000
$25,000 0.25 $6,250
$30,000 0.3 $9,000
$35,000 ...
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