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A wheel of chance with four different colors each different probabilities of being selected pays the following: Color Probability Win/Lose Red 40% -$5,000 Blue 25%
A wheel of chance with four different colors each different probabilities of being selected pays the following:
Color Probability Win/Lose
Red 40% -$5,000
Blue 25% +$7,500
Orange 35% +$3,000
What is the expected return for this game?
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