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A new product is expected to generate the following profits/losses depending on the level of demand. Level of demand Profit/Loss Probability High 83 000 profit
A new product is expected to generate the following profits/losses depending on the level of demand. | |||||||
Level of demand | Profit/Loss | Probability | |||||
High | 83 000 profit | 0.24 | |||||
Medium | 30 000 profit | 0.35 | |||||
Low | 43 000 loss | 0.41 | |||||
What is the expected profit or loss from the new product? | |||||||
Note: profit is a positive value and loss is a negative value. | to nearest |
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