A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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You are deciding to launch your own jewelry line.  After researching the market, you predict you have a 37% chance of earning $5,200, a 28% chance of breaking even, and a 35% chance of losing $3,800.  Calculate the expected value.  Is this a good investment?  Explain.

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