Answer:
option C
Step-by-step explanation:
The point slope equation of a line is given by
Where m is the slope and (x1,y1) is the point on the point
We need to write the equation in y=mx+b form
multiply -2/3 inside the parenthesis
Subtract 7 from both sides
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.