Question: A contractor spends Rs . 3 , 0 0 0 to prepare for a bid en a constriction project which, affer dedacting the manufacturing and

A contractor spends Rs

. 3, 000

to prepare for a bid en a constriction project which, affer dedacting the manufacturing and the cost of bidding. will yield a profit of Rs

. 25, 000

if the bid is won. If the chance of winning the bid is ten pervent, compute the contractor's expected profit and state the likely decision on whether to bid or not.

Answer: Rs

. (-) 200

A contractor spends Rs.3,000 to prepare for a bid en a

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