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Joe owns a small, popular coffee shop in Neptune Beach. He wants to grow his...

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Finance

Joe owns a small, popular coffee shop in Neptune Beach. He wants to grow his business by adding specialty drinks and needs to purchase a commercial grade Espresso Machine. Joe has evaluated the potential outcomes and determined there are three. Based on the information below, what is the expected return?

Outcome Probability Return

1 .20 .25

2 .50 .30

3 .30 .10

*Make sure your answer is in a decimal format (.25, .90, etc.) and not a percentage (25%). Round to the nearest hundredth. (0.089 -> 0.09)

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