SOLUTION: Don Vello is considering bringing a lawsuit against the Dummote Chemical company. His lawyer estimates that their is 70% chance Don will make $60,000, a 10% chance Don will break e

Algebra ->  Probability-and-statistics -> SOLUTION: Don Vello is considering bringing a lawsuit against the Dummote Chemical company. His lawyer estimates that their is 70% chance Don will make $60,000, a 10% chance Don will break e      Log On


   



Question 732011: Don Vello is considering bringing a lawsuit against the Dummote Chemical company. His lawyer estimates that their is 70% chance Don will make $60,000, a 10% chance Don will break even, and a 20% chance they will lose the case and Don will need to pay $30,000 in legal fees. Estimate Don's expected gain or loss if proceeds with the lawsuits.
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