Business, 29.04.2021 15:50 WilliamYES9164

I have a restaurant, but I don't know what demand will be next year. I need to decide whether to expand or not. Regardless of whether I expand or not, there's a 11% chance that I'll have high demand and a (100-11)% chance I'll have low demand. If I expand and I have high demand, I'll get $2,472,189. If I expand and get low demand, I'll make $0. If I don't expand and get high demand, I'll get $23,943. If I don't expand and get low demand, I'll make $50,000. What is the expected value of choosing to expand

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I have a restaurant, but I don't know what demand will be next year. I need to decide whether to exp...

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