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There Is a 30 Percent Chance That a New Product

Question 34

Multiple Choice

There is a 30 percent chance that a new product development project will result in sales of $500,000 and a 70 percent chance that the project will result in sales of $100,0What is the expected value of this project?


A) $220,000
B) $240,000
C) $300,000
D) $320,000
E) $340,000

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