You are a realtor considering listing a $625,000 house.The cost of advertising and providing food for other realtors during open showings is anticipated to cost you $10,500. The house is quite unusual and you are given a four month listing. If the house is unsold after four months, you lose the listing and receive nothing. You anticipate that the probability you sell your own listing to be 0.4 and the probability that another agent sells your house is 0.35.If you sell your own listing, the commission is $40,000 and your boss will reimburse you $1,500 for advertising expenses.If another realtor sells your listing, your commission is $14,500.The bottom line: You will not take the listing unless you anticipate earning at least $9,000.Should you take the listing?Use EXPECTED VALUE to explain why.