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A store specializing in mountain bikes is to open in one of two malls. If the first mall is selected, the store anticipates a yearly
A store specializing in mountain bikes is to open in one of two malls. If the first mall is selected, the store anticipates a yearly profit of $ 75 comma 000 if successful and a yearly loss of $ 25 comma 000 otherwise. The probability of success is one half . If the second mall is selected, it is estimated that the yearly profit will be $ 50 comma 000 if successful; otherwise, the annual loss will be $ 15 comma 000. The probability of success at the second mall is three fourths . Which mall should be chosen in order to maximize the expected profit? Question content area bottom Part 1 The second first mall should be chosen because the expected profit for the first mall is $ enter your response here, and the expected profit for the second mall is $ enter your response here
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