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15a} A company makes electronic gadgets. One out of every 60 gadgets is faulty but the company is unaware of which ones are faulty until
15a} A company makes electronic gadgets. One out of every 60 gadgets is faulty but the company is unaware of which ones are faulty until a buyer complains. If the company makes a $4 profit on the sale of any working gadget. but loses $F'0 for every faulty gadget due to repairs. Will the company expect a profit in the long term. Determine the outcomelvalue and probability for each event. b) find the expected value c) will the company expect a profit in the long term? explain why or why not
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