Suppose that there is a 60% probability that the product will be a success on the market.

Suppose that there is a 60% probability that the product will be a success on the market.if the productis a success, you will get a profit of 200000, andif it is a failure, you will incur a loss of 100000.Should you develop this product? How do you make a decision in this situation? Also, how can one comeup with the probability of success or failure?