TABLE 5-8 Two Different Designs on a New Line of Winter Jackets

question 101

Short Answer

TABLE 5-8
Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table.

-Referring to Table 5-8, if you decide to choose Design A for 30% of the production lines and Design B for the remaining production lines, what is the coefficient of variation of your investment?

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Definitions:

Divorced

The formal termination of a matrimonial union by a judicial body or an authoritative institution.

Relative

A person connected to another by blood or marriage, or an entity regarded in relation to its connections with others within a system.

Orphaned Children

Children who have lost both parents through death or, in some definitions, have been abandoned by their parents.

Parental Attention

The degree of care, awareness, and responsiveness a parent shows towards their child's needs and activities.