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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