Liqin fixes up old cars and sells them to supplement his retirement income. Liqin came across a beat-up 1955 Corvette that he is considering rebuilding and selling. He estimates a 0.2 probability that he will gain 15% on the deal, a 0.2 probability that he will gain 10%, and a 0.6 probability that he will gain 5%. What is Liqin's expected return for fixing up and selling the Corvette?

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The Answer of Liqin fixes up old cars and sells them to supplement his retirement income. Liqin came across a beat-up 1955 Corvette that he is considering rebuilding and selling. He estimates a 0.2 probability that he will gain 15% on the deal, a 0.2 probability that he will gain 10%, and a 0.6 probability that he will gain 5%. What is Liqin's expected return for fixing up and selling the Corvette?

Liqin Fixes Up Old Cars and Sells Them to Supplement