A new club sent out 288 coupons to boost sales for next year's memberships. They provided 5 times as many to potential members t
1 answer:
You might be interested in
The formula of an area of a triangle:
b - base
h - height
We have b = 8x and h = 7x. Substitute:
<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.