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An advertising campaign would cost $200,000. It is believed that it would result in either a $400,000 or a $100,000 increase in profit. The probabilities
An advertising campaign would cost $200,000. It is
believed that it would result in either a $400,000
or a $100,000 increase in profit. The probabilities of
these two outcomes are 0.3 and 0.7, respectively.
Is the campaign worth its projected cost?
Can you show me how to do the work for this problem.
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