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2 3 Question 14 (5 points) Cana Systems is considering a project to build upscale condominiums. They are 4 5 6 considering plans on a small, medium, or large development and balancing possible future demand as low or high. Profits have been estimated and are summarized in a payoff table. 7 8 9 Act State of Nature ($millions) Low P(0.3) High P(0.7) Small 6 11 10 11 12 Medium 5 13 Large -4 18 13 14 15 What is the expected value under conditions of certainty? 16 17 18 $10.6 million $14.4 million 19 20 $9.5 million $11.4 million