Ummmmmmm -26 ......... in
This is an arithmetic sequence, since it's pattern is +4.
n1 = 1
d = 4
n = 1 + (n-1)(4) <-------------- This is the formula for the nth term of the sequence.
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.