Use the Following Data to Answer Questions 77-87

question 71

Multiple Choice

Use the following data to answer questions 77-87.
-Refer to the data on Expected Demand for Acme Widgets.For the various demand scenarios and their associated probabilities,the option to do nothing has an expected value of ______.

• A)$21.52 million
• B)$40.50 million
• C)$34.22 million
• D)$65.58 million

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Definitions:

All Aces

A term often used to describe a situation, hand, or outcome that is the best possible under the circumstances.

Probability

A calculation of the chance of a certain event taking place, denoted by a number between 0 and 1.

Cards

Paper or plastic rectangular pieces, often used for playing a variety of games, or as a medium for storing information such as identification or banking details.

Fair Die

A fair die is a dice designed to have equal likelihoods of landing on any of its faces when thrown.