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A concert organizer is planning an outdoor concert but there is rain in the forecast. If there is no rain, the profit is expected to

A concert organizer is planning an outdoor concert but there is rain in the forecast. If there is no rain, the profit is expected to be $600,000. If there is rain, the expected loss is expected to be -$120,000. The chance of rain is forecasted to be 65%. Find the expected payout of the concert. Should the organizer go ahead with the concert or cancel it?

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