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 $920,000 if the economy is strong, $660,000 if the economy is steady, and $377,000 if the economy is weak. Gary believes there is a 15 percent probability the economy will be strong, a 50 percent probability of a steady economy, and a 35 percent probability of a weak economy. What is the expected level of sales for next year?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92319856

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