B$.$ Using Maximum Expected Value criterion, determine which project the contractor should bid and the maximum

expected value of net profit.

Bid Project No$.$

C$.$ Determine the joint probability that the contractor will win the bid and maximize profit for each project: $(5)$

Project $1$: P$($Profit $=$$$6M$

Project $2$: Profit $=$$$20M$

Project $3$: Profit $=$$$15M$