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Hooper Chemical Company, a major chemical firm that uses suchraw materials as carbon and petroleum as part of its productionprocess, is examining a plastics firm to add to its operations.Before the acquisition, the normal expected outcomes for the firmwere as follows: Outcomes($ millions)ProbabilityRecession$35.4Normal economy55.2Strong economy75.4Compute the expected value, standard deviation, and coefficientof variation prior to the acquisition. (Do not roundintermediate calculations. Enter your dollar answers in millionsrounded to 2 decimal places (e.g., $12,300,000 should be entered as"12.30"). Round the coefficient of variation to 3 decimalplaces.)
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