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Q4. In 2020 ABC would like to consider all sorts of scenarios. There is a...

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Accounting

Q4. In 2020 ABC would like to consider all sorts of scenarios. There is a 15% probability that the worst will happen, a 25% probability that the best will happen, and a 60% probability that the most likely outcome will occur. What will be the expected value of profit for 2020? Kindly show working on every step with formulas?

Possibilities Units Price/unit Material cost/unit Fixed cost
Worst 7500 18 9 50000
Most likely 9500 20 8 45000
Best 12000 22 7 40000

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