The owner of an antique store estimates that there is a 40% chance she will...
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The owner of an antique store estimates that there is a 40% chance she will make $2400 when she sells an antique china cabinet, a 15% chance she will make $1500 when she sells the cabinet, and a 45% chance she will break even when she sells the cabinet. Determine the expected gain or loss for the store.
The owner of an antique store estimates that there is a 40% chance she will make $2400 when she sells an antique china cabinet, a 15% chance she will make $1500 when she sells the cabinet, and a 45% chance she will break even when she sells the cabinet. Determine the expected gain or loss for the store.
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