The publisher decided to publish a new book. He is going to sell one copy for $10. Assume that the cost of publishing is $60,000 for 1,000 copies and $250,000 for 5,000 copies. The probability of selling 1,000 copies is 0.9 and of selling 5,000 copies is 0.1. Find the publisher’s expected profit.
a. –65,000
b. 14,000
c. 1,400
d. –250,000
a. –65,000
Mathematics
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