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Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in dollars) will depend on the...

Question

Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table. Probability Taste Design A Design B 0.20 conservative 190000 425000 0.50 no 'change 235000 435000 0.30 liberal 385000 305000 #oou decide to choo

Two different designs on a new line of winter jackets for the coming winter are available for your manufacturing plants. Your profit (in dollars) will depend on the taste of the consumers when winter arrives. The probability of the three possible different tastes of the consumers and the corresponding profits are presented in the following table. Probability Taste Design A Design B 0.20 conservative 190000 425000 0.50 no 'change 235000 435000 0.30 liberal 385000 305000 #oou decide to choose Design A for 80% of the production lines and the remaining 20% for Design B, what is the expected value of profit? (Keep whole dollarsh

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