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Tarek Is Considering Buying a House to Renovate and Flip

question 55

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Tarek is considering buying a house to renovate and flip (resell). He calculates a 0.3 probability that he will gain a 32% return from the project, a 0.3 probability that he will gain a 21% return, and a 0.4 probability that he will gain a 15% return. Tarek expects a return of _____ from this project.


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