Shack Homebuilders Limited is evaluating a new promotional campaign that could increase home sales. Possible outcomes and probabilities of the outcomes are shown next. Possible Outcomes Ineffective campaign Normal response Extremely effective Additional Sales in Units Coefficient of variation 50 70 130 Probabilities 0.10 0.20 0.70 Compute the coefficient of variation. Note: Do not round intermediate calculations. Round your answer to 3 decimal places.

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Author:Amos Gilat
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Shack Homebuilders Limited is evaluating a new promotional campaign that could increase home sales. Possible outcomes and
probabilities of the outcomes are shown next.
Possible Outcomes
Ineffective campaign
Normal response
Extremely effective
Additional Sales
in Units
Coefficient of variation
50
70
130
Probabilities
0.10
0.20
0.70
Compute the coefficient of variation.
Note: Do not round intermediate calculations. Round your answer to 3 decimal places.
Transcribed Image Text:Shack Homebuilders Limited is evaluating a new promotional campaign that could increase home sales. Possible outcomes and probabilities of the outcomes are shown next. Possible Outcomes Ineffective campaign Normal response Extremely effective Additional Sales in Units Coefficient of variation 50 70 130 Probabilities 0.10 0.20 0.70 Compute the coefficient of variation. Note: Do not round intermediate calculations. Round your answer to 3 decimal places.
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