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.
We check with each options
'Or' represents the intersection of two graphs
'And' represents two separate graphs'
We have two separate shaded part in the given graph
So we ignore the options that has 'and' in between
LEts check first and second option
Simplify the first part and second part
multiply both sides by 2 .
x < 2 or 4x - 2 > = 26
solve 4x-2 > = 26
add 2 on both sides and then divide both sides by 4
4x >= 28
x >= 7
So solution is x<2 or x>=7 . that is the graph on number line
Lets check with second option
3x-3<3 or 2x+8>=22
add 3 on both sides
3x < 6
divide both sides by 3
so x< 2
2x+8>=22
subtract 8 on both sides
2x >= 30
divide both sides by 2
x >= 15
x<2 or x>=15 that does not satisfies the graph
So option A is correct