Question: Kohls Candy Company developed a new consumer product that is
Kohls Candy Company developed a new consumer product that is expected to earn $ 4,000 in profit each year if consumer demand is low, $ 20,000 per year if consumer demand is moderate, and $ 36,000 per year if consumer demand is high. The probability of low, moderate, and high demand is 30%, 45%, and 25%, respectively. Determine the EMV for the new product.
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