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Which project should the proprietor choose

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Reference no: EM131559602

Question: INVESTMENT ANALYSIS The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $180,000 with a probability of .7 or a profit of $150,000 with a probability of .3; the second project will yield a profit of $220,000 with a probability of .6 or a profit of $80,000 with a probability of .4. Which project should the proprietor choose if he wants to maximize his expected profit?

Reference no: EM131559602

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