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Imagine that you are participating in a scientific contest and investing $15000 in your project. In...

Imagine that you are participating in a scientific contest and investing $15000 in your project. In case you win, you get $25000 as a prize. If you do not win, you get nothing and lose all of the money you invested. If the possibility of you winning is 65%, what is the expected value of the profit you get in this contest (profit can be positive, negative or zero).

Math   Statistics-And-Probability   
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