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You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or

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You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the accompanying table. Project Red Boom (60%) $40 Recession (40%) -$30 Orange -$60 $50 Green Blue $40 $30 -$ 60 $40 If a manager adopted both projects Red and Orange simultaneously, the expected value of this joint project would be

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