Write a variable expression for the sum of a number w and 2
1 answer:
You might be interested in
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.