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Scenario 2: Assume that if Cat and Joe go to Bullarama, there is a 35%...

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Finance

Scenario 2: Assume that if Cat and Joe go to Bullarama, there is a 35% chance they will have no onsite competitors and the net income would be $967, a 45% chance they will have one onsite competitor and the net income would be $372, and a 20% chance they will have two onsite competitors and the net income would be $172. What is the expected net income of going to Bullarama?

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