A coffee franchise is opening a new store. The company estimates that there is an 80% chance the store will have a profit of $45,000, a 5% chance the store will break even, and a 15% chance the store willlose $3,500. Determine the expected gain or loss for this store.

Name: A coffee franchise is opening a new store. The company estimates that
Uploaded: 2024-03-20T07:06:41.000Z
Channel: Bartleby
Description: A coffee franchise is opening a new store. The company estimates that there is an 80% chance the store will have a profit of $45,000, a 5% chance the store will break even, and a 15% chance the store willlose $3,500. Determine the expected gain or l