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Sharpe Knife Company expects sales next year to be $1,530,000 if the economy is strong,...

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Accounting

Sharpe Knife Company expects sales next year to be $1,530,000 if the economy is strong, $815,000 if the economy is steady, and $530,000 if the economy is weak. Mr. Sharpe believes there is a 20 percent probability the economy will be strong, a 55 percent probability of a steady economy, and a 25 percent probability of a weak economy

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Sharpe Knife Company expects sales next year to be $1,530,000 if the economy is strong, $815,000 if the economy is steady, and $530,000 if the economy is weak. Mr. Sharpe believes there is a 20 percent probability the economy will be strong, a 55 percent probability of a steady economy, and a 25 percent probability of a weak economy. What is the expected level of sales for the next year? Expected level of sales

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