In his free time. Gary spends 8 hours per week on the internet. and 11 hours per week playing video games. If Gary has 5 hours o
2 answers:
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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.