SOLUTION: In a proposed business venture, Stephanie Morrison estimates that there is a 60% chance she will make $80,000 and a 40% chance she will lose $20,000. Determine Stephanie’s expected
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Question 325944: In a proposed business venture, Stephanie Morrison estimates that there is a 60% chance she will make $80,000 and a 40% chance she will lose $20,000. Determine Stephanie’s expected value.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
\ -\ (0.4\ \times\ 20,000))
You can do the arithmetic.
John
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