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Rotter Partners is planning a major investment. A probabilistic estimate gives the following distribution(in millions of dollars):
Profit
1
1.5
2
3
10
Probability
.3
.2
?
a) Find the missing probability.
b) Find the mean and standard deviation.
c) What is the expected value of the profit? (Hint: use part b)
d) Is it unusual to have a profit of 10 million dollars?
e) Use probabilities to determine whether having a profit of 1.5 million dollars is an unusually low number.
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