A construction company is planning to bid on a building contract. the bid costs the company $1900. the probability that the bid is accepted is 1/10. if the bid is accepted, the company will make $94000

A construction company is planning to bid on a building contract. the bid costs the company $1900. the probability that the bid is accepted is 1/10. if the bid is accepted, the company will make $94000 minus the cost of the bid.

a. what is the expected value in this situation?

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A construction company is planning to bid on a building contract. the bid costs the company $1900. the probability that the bid is accepted is 1/10. if the bid is accepted, the …

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