Please explain if possible. A company is considering designing a new and better remote control. The company estimates the probability that the new remote will be successful is . If it is successful, it would be able to make $175,000. Of course, the company would make nothing if it were unsuccessful. The development costs for the remote control are $95,000. What is the expected value?
a. $70,000
b. -$10,000
c. $105,000
d. $10,000