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Mathematics, 03.02.2020 20:00 chjam265

Acompany is considering making a new product. they estimate the probability that the new product will be successful is 0.75. if it is successful it would generate $240,000 in revenue. if it is not successful, it would not generate any revenue. the cost to develop the product is $196,000. use the profit (revenue − cost) and expected value to decide whether the company should make this new product.

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