Math Problem Statement
Biotech firm:
x P(X = x) x · P(X = x)
$6,000,000
0
−$1,000,000
Solution
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Math Problem Analysis
Mathematical Concepts
Probability
Expected Value
Random Variables
Formulas
Expected value formula: E(X) = Σ[x * P(X = x)]
Theorems
Law of Total Expectation
Suitable Grade Level
University Level (Probability and Statistics)
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