Finance

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Financial Forecasting

Sales Projection

Gibson Manufacturing Corp. expects to sell the following number of units of steel cables at the prices indicated under three different scenarios in the economy. The probability of each outcome is indicated.What is the expected value of the total sales projection?
Outcome Probability Units Price
A 0.20 100 $20
B 0.50 180 25
C 0.30 210 30
 
How far did you get on your own? Please show your work.
 
I'm not sure if I found the expected value

A. 100*$20=2,000
B. 180*$25=4,500
C. 210*$30=6,300
 
Goldenprl67 said:
I'm not sure if I found the expected value

A. 100*$20=2,000
B. 180*$25=4,500
C. 210*$30=6,300
Click to expand...

Your answers do not include usage of probability.
 
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