Hi guys, can ne1 help with this prob......... its nt gmat but still a ps, pls help urgently
Q. Gary's Pipe and Steel Company expects next year's sale to be $800 000 if the economy is strong, $500 000 if the economy is steady and $350 000 if the economy is weak. Gary believes there is a 20% probability that the economy will be strong, a 50% probability that the economy will be steady, and a 30% probability that the economy will be weak. What is the expected level of sales for next year?
Q. Gary's Pipe and Steel Company expects next year's sale to be $800 000 if the economy is strong, $500 000 if the economy is steady and $350 000 if the economy is weak. Gary believes there is a 20% probability that the economy will be strong, a 50% probability that the economy will be steady, and a 30% probability that the economy will be weak. What is the expected level of sales for next year?
