There is a 60% chance of a loss of $100, a 30% chance of sales of $100,
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There is a 60% chance of a loss of $100, a 30% chance of sales of $100, and a 10% chance of sales of $200. What is the expected value of sales?
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To derive the expected value of sales we combine the probabilities and magnitudes of each potential ...View the full answer
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