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An event is being planned for June 15. The cost of the event will be...

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Accounting

An event is being planned for June 15. The cost of the event will be $30,000. This includes all marketing, security, entertainment, a venue, catering etc. If the event is successful the organizer expects $50,000 in revenue. However, there is a chance the event Will be canceled if ticket sales are not good enough. The probability of a canceled event is 0.15. Find the expected profit.

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