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What is the expected annual revenue for the store

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Question - Crane, Inc., is launching a new store in a shopping mall in Houston. The annual revenue of the store depends on the weather conditions in the summer in Houston. The annual revenue will be $220,200 in a sizzling summer, with a probability of 0.3, $75,000 in a cool summer with a probability of 0.2, and $159,000 in a normal summer with a probability of 0.5. What is the expected annual revenue for the store?

Reference no: EM132840731

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