Answered

Welcome to Westonci.ca, the ultimate question and answer platform. Get expert answers to your questions quickly and accurately. Discover detailed solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

A construction company is planning to bid on a building contract. The bid costs the company $1500. The probability that the bid is accepted is 1551​. If the bid is accepted, the company will make $40,000 minus the cost of the bid. Find the expected value in this situation. Describe what this value means.

Sagot :

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.