The owner of an antique store estimates that there is a 40% chance she will make $2000
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The owner of an antique store estimates that there is a 40% chance she will make $2000 when she sells an antique china cabinet, a 50% chance she will make $750 when she sells the cabinet, and a 10% chance she will break even when she sells the cabinet. Determine the expected amount she will make when she sells the cabinet.
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Related Book For
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
Question Posted:
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