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Mathematics, 21.03.2020 04:16 natalie2sheffield
A store specializing in mountain bikes is to open in one of two malls. If the first mall is selected, the store anticipates a yearly profit of $1,425,000 if successful, and a yearly loss of $475,000 otherwise. The probability of success is .5. If the second mall is selected, it is estimated that the yearly profit will be $950,000 if successful; otherwise, the annual loss will be $285,000. The probability of success at the second mall is .34
What is the expected profit for the second mall?
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A store specializing in mountain bikes is to open in one of two malls. If the first mall is selected...
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