A product manager at Clean & Brite $($C&B$)$ wants to determine whether her company should market a new brand of toothpaste. If this new product succeeds in the marketplace, C&B estimates that it could earn $$1,800,000$ in future profits from the sale of the new toothpaste. If this new product fails, however, the company expects that it could lose approximately $$750,000.$ If C&B chooses not to market this new brand, the product manager believes that there would be little, if any, impact on the profits earned through sales of C&B$$s other products.

The manager has estimated that the new toothpaste brand will succeed with probability $0\mathrm{.}50.$ Before making her decision regarding this toothpaste product, the manager can spend $$75,000$ on a market research study. Based on similar studies with past products, C&B believes that the study will predict a successful product, given that product would actually be a success, with probability $0\mathrm{.}75.$ It also believes that the study will predict a failure, given that the product would actually be a failure, with probability $0\mathrm{.}65.$

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Part $1$: Launching without the market study

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Question $11$ pts

What is the expected value of not doing the market study and proceeding to launch the product?

Enter your answer in dollars, rounded to the dollar.