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 $100,000. What is the expected value of this project?
A) $220,000
B) $240,000
C) $300,000
D) $320,000
E) $340,000
Correct Answer:
Verified
Correct Answer:
Verified
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