Joe owns a small, popular coffee shop in Neptune Beach. He wants to grow his...
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Finance
Joe owns a small, popular coffee shop in Neptune Beach. He wants to grow his business by adding specialty drinks and needs to purchase a commercial grade Espresso Machine. Joe has evaluated the potential outcomes and determined there are three. Based on the information below, what is the expected return?
Outcome Probability Return
1 .20 .25
2 .50 .30
3 .30 .10
*Make sure your answer is in a decimal format (.25, .90, etc.) and not a percentage (25%). Round to the nearest hundredth. (0.089 -> 0.09)
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