Plz help me with this problem!!
1 answer:
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<u>Answer:</u>
The expected value of construction company is $30500.
<u>Solution:</u>
Given, A construction company is planning to bid on a building contract.
The bid costs $1,500 and has an 80% chance of being accepted.
If accepted, the company will receive $40,000 dollars.
We have to find the expected value.
We know that,
Expected value = probability amount gained by bidding – bid amount
Expected value = 80% x 40000 – 1500
Expected value = 0.8 x 40000 – 1500
Expected value = 32000 – 1500
Expected value = 30500
Hence, the expected value is $30500.
Answer:
Step-by-step explanation:
Given
The length of a rectangle is given by
and the breadth is given by
Perimeter is the sum of the sides of rectangle
Thus, the perimeter is given by .