Real Estate Adventures & Contracting expects sales next year to be $3,000,000 if the economy is strong, $1,800,000 if the economy is steady, and $500,000 if the economy is weak. The firm believes there is a 15 percent probability the economy will be strong, a 60 percent probability of a steady economy, and a 25 percent probability of a weak economy.
What is the expected level of sales for next year?