Question: answer A construction company is considering submitting bids for two contracts. It will cost the company $10,000 to prepare and submit the bids, and if

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A construction company is considering submitting bids for two contracts. It will cost the company $10,000 to prepare and submit the bids, and if won, each bid would produce $50,000 of income to the company. The company estimates that it has a 10% chance of winning any given bid. Here is the probability distribution of X = the number of bids the company wins, and M = the amount of money the company profits from the bids. X = # of bids won 0 1 2 M = profit $10,000 $40,000 $90,000 Probability 0.81 0.18 0.01 Calculate the mean of M. pa= | dolas

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