Question: A lab project involves selecting between two experimental methods: Method A, which has a 70% success rate, and Method B, with a 90% success rate.

A lab project involves selecting between two experimental methods: Method A, which has a 70% success rate, and Method B, with a 90% success rate. If Method A costs $5,000 and Method B costs $8,000, and the project's potential profit is $15,000, what decision should be made based on the expected monetary value (EMV) criterion?

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