Garyrsquos pipe and steel company expects sales next year, Ask an Expert

Finance

Gary’s Pipe and Steel company expects sales next year to be $700,000 if the economy is strong, $400,000 if the economy is steady, and $250,000 if the economy is weak. Gary believes there is a 20 percent probability the economy will be strong, a 50 percent probability of a steady economy, and a 30 percent probability of a weak economy.

What is the project sales for next year?

a. $400,000

b. $415,000

c. $475,000

d. $500,000

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91887160

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