Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Company XYZ generates a profit of $40 for each laptop they sell. The company loses $500 for each laptop that is returned due to some defect. If 3 out of every 100 laptops that they produce is defective, what is the expected value of profit per laptop?
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