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A company is testing a new product. Market research indicates a 60% probability of success, which would yield a profit of $200,000. However, there is a 40% probability of failure, resulting in a loss of $150,000. The expected payoff for launching this new product is $____.
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A company is testing a new product. Market research indicates a 60% probability of success, which would yield a profit of $200,000. However, there is a 40% probability of failure, resulting in a loss of $150,000. The expected payoff for launching this new product is $____.
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