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A company is producing a product that its size has a normal distribution with mean of 7 and std of 0.1. A product that has
A company is producing a product that its size has a normal distribution with mean of 7 and std of 0.1. A product that has a size of is called a standard product. Producing a standard product has 1250 profit. If a product is smaller than 6.91 it is not useable and will result in 1050 $ of negative profit. If the product is bigger than 7.09, producer will be able to fix it and make it as a standard product by spending 200$. Calculate the expected profit for producing a product.
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