Question: Based on past experience, a building contractor sets the probability of winning a contract is 30%. The contract is worth $25,000 and the cost to

Based on past experience, a building contractor sets the probability of winning a contract is 30%. The contract is worth $25,000 and the cost to prepare the contract proposal is $2,400. What is the expected value of the contract proposal? $5,100 $6,780 -$5,100 $22,600

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