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April 18, 2015

Homework Help: finance

Posted by Mary on Thursday, May 26, 2011 at 1:49pm.

Austin Electronics expects sales next year to be at $900,000 if the economy is strong, $650,000 if the economy is steady, and $375,000 if the economy is weak. The firm believes there is a 15 percent probability the economy will be strong, a 60 percent probability of a steady economy, and a 25 percent probability of a weak economy. What is the expected level of sales for next year?

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