Answer:
I posted a question not too long ago, no one has answered yet and I'm almost done with the assignment, help would be greatly appreciated! :)
31.5 hope it helps have a good day
Answer: B) 56
Just multiply all numbers and see which number from the choices match your answers after doing the multiplication! Hope I helped!
<u>Answer:</u>
The expected value of construction company is $30500.
<u>Solution:</u>
Given, A construction company is planning to bid on a building contract.
The bid costs $1,500 and has an 80% chance of being accepted.
If accepted, the company will receive $40,000 dollars.
We have to find the expected value.
We know that,
Expected value = probability
amount gained by bidding – bid amount
Expected value = 80% x 40000 – 1500
Expected value = 0.8 x 40000 – 1500
Expected value = 32000 – 1500
Expected value = 30500
Hence, the expected value is $30500.