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A grocery store is reevaluating the retail price of their oranges. They have a contract where they can purchase oranges for $ 0 . 5
A grocery store is reevaluating the retail price of their oranges. They have a contract where they can purchase oranges for $ per pound. However, this includes high quality oranges about of the time low quality oranges and occasionally rotten fruit Suppose they sell of all high quality oranges at $ per pound, of all low quality oranges at $ per pound they offer a sale and they cannot sell any of the rotten fruit.
What is the store's expected profit from a random shipment of pounds of oranges? We do not consider personnel and other overhead costs, only the wholesale cost of the oranges. Give your answer as a number, no dollar sign included.
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