Question: I have a restaurant, but I don't know what demand will be next year. I need to decide whether to expand or not. Regardless of
I have a restaurant, but I don't know what demand will be next year. I need to decide whether to expand or not. Regardless of whether I expand or not, there's a chance that lll have high demand and a chance I'll have low demand. If I expand and I have high demand, I'll profit in the amount of $ If I expand and get low demand, I'll break even. If I don't expand and get high demand, I'll profit in the amount of $ If I don't expand and get low demand, I'll profit in the amount of $ If I choose the decision that maximizes my expected value, what is the expected value of choosing the right option? Answer rounded to the nearest whole dollar, so if your answer is answer without dollar sign.
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