CONTRACT  PROFIT, (P)*
OF PROFIT...(P)*. TO BREAK EVEN...LOSS, (P)* OF LOSS
Southeast $45,000,            50%                       30%                           $6,000, 20%
Southwest $60,000,            35%                      40%                          $10,000, 25%
California $112,000,           20%                       40%                          $40,000, 40%
I think that the best contract would be with SOUTHEAST. It probability of having a profit is higher than the other two at 50% while its probability of incurring a loss is lesser than the other two at 20%. 
Despite the bigger value of its contract profit of the other two, these value will still be greatly affected by its corresponding probabilities.