An oil company is considering two sites on which to drill, described as follows:
Site A: Profit if it is found: $80 million
Site B: Profit if it is found: $120 million
Loss if no oil is found: $10 million
Loss if no oil is found: $18 million
Probability of finding oil: 0.2
Probability of finding oil: 0.1
Which site has a better expected value? A or B
What is the difference in the profits between the sites?
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