Calculate the companies expected gain or loss for the year

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Question: A manufacturing company is negotiating a contract with its employees. The probability that the union will go on strike is five percent. If the union goes on strike, the company determines that it loose USD 345,000 for the year. If the union does not go on strike, the company estimates it will make USD 1.2 million dollars. Calculate the companies expected gain or loss for the year. Show your work!

Reference no: EM1318096

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