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An importer has arranged for a shipment of seasonal merchandise which promises a profit of $120,000 with a probability of 0.60 or a loss of

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An importer has arranged for a shipment of seasonal merchandise which promises a profit of $120,000 with a probability of 0.60 or a loss of $45,000 (due to late delivery of the shipment) with a probability of 0.40. What is the importer's expected profit

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