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Title: Lobster Liquidators will make $500,000 if the fishing season weather is good, $200,000 if the ... Post by: pduvin on Nov 4, 2017 Lobster Liquidators will make $500,000 if the fishing season weather is good, $200,000 if the weather is fair, and would actually lose $50,000 if the weather is poor during the season. If the weather service gives a 40% probability of good weather, a 25% probability of fair weather, and a 35% probability of poor weather, what is the expected monetary value for Lobster Liquidators?
A) $500,000 B) $750,000 C) $267,500 D) $200,000 E) $232,500 Title: Re: Lobster Liquidators will make $500,000 if the fishing season weather is good, $200,000 if the ... Post by: pacho on Nov 4, 2017 Content hidden
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