Question: 4. There are three potential projects for a company to bid for, and their estimated profits are as follows: Project Estimated Profits A . Chance

4. There are three potential projects for a

4. There are three potential projects for a company to bid for, and their estimated profits are as follows: Project Estimated Profits A . Chance of Outcome 20% 40% 40% 70% 30% 40% 60% 10% 40% 50% $50,000 $60,000 -$40,000 -$10,000 $50,000 $60,000 -$50,000 $500,000 -$60,000 -$30,000 D a. b. Calculate the expected monetary value (EMV) for the four projects. (6 marks) If the company's culture is risk-averse, which project would the company bid for and why? (2 marks) If the company's culture is risk-seeking, which project would the company bid for and why? (2 marks) c

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