Question: Suppose that next year the U.S. will be in one of the following economic conditions: Boom, Moderate Growth, Recession, or Depression. The probability that each
Suppose that next year the U.S. will be in one of the following economic conditions: Boom, Moderate Growth, Recession, or Depression. The probability that each economic condition will occur, and that a jewelry store will earn profits within that broader economic condition are listed below:
| Economic Condition | Probability | Store Profits |
| Boom | 0.4 | $ 400,000.00 |
| Moderate Growth | 0.3 | $ 300,000.00 |
| Recession | 0.2 | $ 100,000.00 |
| Depression | 0.1 | $ (500,000.00) |
The expected profit of the jewelry store during the next year is?
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