If the payoff of a risky investment has three possible outcomes ($1,000, $2,000, $5,000) with probabilities .60,

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If the payoff of a risky investment has three possible outcomes ($1,000, $2,000, $5,000) with probabilities .60, .30, and .10 respectively, find the expected value.
a. $1,500
b. $2,300
c. $1,700
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