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The Learned Book Company has a choice of publishing one of two books o the subject of Greek mythology. It expects the sales period for each to be extremely short, and it estimates profit probabilities as follows:
Calculate the expected profit, standard deviation, and coefficient of variation for each book. If you were asked which of the two to publish, what would be your advice?
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THE COMPANY WOULD TO INCREASE THE PRICE OF STEEL IT SELLS BY 6% THE MANAGEMENT FORECAST ED THAT INCOME WILL RISE BY 4% NEXT YEAR AND THAT PRICE OF ALUMINIUM WILL FALL BY 2%. IF THE
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