A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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8. Anil company estimates the net profit on a new product it is
Taunching to be Rs. 30,00,000 during the first year if it is 'successful'; Rs
10,00,000 if it is "moderately successful' and a loss of Rs. 10,00,000 if it is
'unsuccessful'. The firm assigns the following probabilities to the first year
prospectus for the product successful 0-15, moderately successful 0-25. What
are the expected values and standard deviation of the first year net profit for
this product.
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Transcribed Image Text:8. Anil company estimates the net profit on a new product it is Taunching to be Rs. 30,00,000 during the first year if it is 'successful'; Rs 10,00,000 if it is "moderately successful' and a loss of Rs. 10,00,000 if it is 'unsuccessful'. The firm assigns the following probabilities to the first year prospectus for the product successful 0-15, moderately successful 0-25. What are the expected values and standard deviation of the first year net profit for this product.
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