SOLUTION: You are thinking about starting a new business. You do a lot of research and find that there is a 60% chance you will make $90,000, a 10% chance you will break even and a 30% chanc
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-> SOLUTION: You are thinking about starting a new business. You do a lot of research and find that there is a 60% chance you will make $90,000, a 10% chance you will break even and a 30% chanc
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Question 1117987: You are thinking about starting a new business. You do a lot of research and find that there is a 60% chance you will make $90,000, a 10% chance you will break even and a 30% chance you will lose $35,000. What is your expected value? Answer by solver91311(24713) (Show Source):
