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A contractor is considering a sale that promises a profit of 36000 with a probability of 0.7 or a loss of 6000 with a probability of 0.30 What is the expected profit?
Wiki User
∙ 16y ago
expected profit should be : 0.7($36,000) - 0.3($6,000) = $23,400
Wiki User
∙ 16y ago
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