You are considering selling a brand new product. If it is a success, it will earn you profit of $50,000. if it's a flop, you will earn profit of $2,000. You believe in your product and your advertising agency does as well. Given their experience, they think the odds of it being a success are 75%. What is the expected value of your profit on the new product? Multiple Choice $26,000 $38.000 $48000 Multiple Choice $26.000 $38,000 O $48.000 $52.000