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

question 144

Short Answer

SCENARIO 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 Scenario 5-8,if you decide to choose Design A for 70% 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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