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What is the expected level of sales for next year

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Gary's Pipe and Steel company expects sales next year to be $1,030,000 if the economy is strong, $715,000 if the economy is steady, and $388,000 if the economy is weak. Gary believes there is a 35 percent probability the economy will be strong, a 30 percent probability of a steady economy, and a 35 percent probability of a weak economy.

Problem 1: What is the expected level of sales for next year?

Reference no: EM132776937

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