A coffee franchise is opening a new store. The company estimates that there is a 70% chance the store will have a profit of

Question

A coffee franchise is opening a new store. The company estimates that there is a 70% chance the store will have a profit of $20,000, a 15% chance the store will break even, and a 15% chance the store will lose $3,000. Determine the expected gain or loss for this store. The expected value is $. (Round to the nearest cent as needed.)

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