[Solution Library] An investment can lead to a profit of $10,000, $5,000, $4,000, and $1,000, with respective probabilities of .4, .3, .2, and .05. In addition,
Question:
An investment can lead to a profit of $10,000, $5,000, $4,000, and $1,000, with respective probabilities of .4, .3, .2, and .05. In addition, there is a 3 percent chance of breaking even and a small chance of losing $10,000. Find the expected profit.
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