Answer:
$3,000
Step-by-step explanation:
There two possible outcomes:
There is a 3/4 chance that the bid is rejected for a value of -$1,400
There is a 1/4 chance that the bid is accepted for a value of $17,600 - $1,400.
The expected value of the situation is:
The expected value is $3,000.
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9 x 10 *-6
Answer: 110.6
Step-by-step explanation: 220 - 109.4 = 110.6
Point (2, 20) does not lie on the given curve.
Let us see explanation: