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Two Professors at a Nearby University Want to Co-Author a New

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Two professors at a nearby university want to co-author a new textbook in either economics or statistics.They feel that if they write an economics book,they have a 50 percent chance of placing it with a major publisher,and it should ultimately sell about 40,000 copies.If they can't get a major publisher to take it,then they feel they have an 80 percent chance of placing it with a smaller publisher,with ultimate sales of 30,000 copies.On the other hand,if they write a statistics book,they feel they have a 40 percent chance of placing it with a major publisher,and it should result in ultimate sales of about 50,000 copies.If they can't get a major publisher to take it,they feel they have a 50 percent chance of placing it with a smaller publisher,with ultimate sales of 35,000 copies.What is the expected value for the optimum decision alternative?

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Definitions:

Transmission

The act or process by which something is spread or passed from one person or thing to another, especially in the context of diseases or information.

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An infectious disease caused by the Epstein-Barr virus, characterized by fever, sore throat, and swollen lymph glands.

Saliva

A clear liquid secreted by the salivary glands in the mouth, aiding in digestion and maintaining oral health.

Infectious Agents

Microorganisms or pathogens that can cause diseases, including bacteria, viruses, fungi, and parasites.

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