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A produceer plans an outdoor regatta for April 28th. The cost of the regatta is $9,000. This includes advertising, security, printing tickets, entertainment, etc. The
A produceer plans an outdoor regatta for April 28th. The cost of the regatta is $9,000. This includes advertising, security, printing tickets, entertainment, etc. The producer plans to make $15,000 profit if all goes well. However, it it rains, the regatta will be cancelled. According tothe weather report, the probability of rain is 0.35. Find the producer's expected profit.
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