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	Boom (80%)	Recession (20%)
Red	$ 50	$ 40
Orange	$ 40	$ 50
Green	$ 60	$ 60
Blue	$ 80	$ 80

The expected value of project Red is

rev: 11_08_2021_QC_CS-284462

Multiple Choice

• $80.
• $32.
• $64.
• $128.