Question: In a product liability case, a company can settle out of court for a loss of $350,000, or go to trial, losing $800,000 if found

In a product liability case, a company can settle out of

In a product liability case, a company can settle out of court for a loss of $350,000, or go to trial, losing $800,000 if found guilty and nothing if found not guilty. Lawyers for the company estimate the probability of a not-guilty verdi be 0.8. Complete parts (a) through (b) below.

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