Question
A local barbershop is discussing the option to move locations.After researching the market, they predict a 40% chance of earning $6,500, a 13% chance of
A local barbershop is discussing the option to move locations.After researching the market, they predict a 40% chance of earning $6,500, a 13% chance of breaking even, and a 47% chance of losing $5,900.What is the expected value of moving locations?
A)Loss of $173
B)Gain of $173
C)Loss of $5,373
D)Gain of $5,373
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Finite Mathematics and Its Applications
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
12th edition
978-0134768588, 9780134437767, 134768582, 134437764, 978-0134768632
