Question: Probability question help please. An architect is considering bidding for the design of a new museum. The cost of drawing plans and submitting a model

Probability question help please.

An architect is considering bidding for the design of a new museum. The cost of drawing plans and submitting a model is $12,000. The probability of being awarded the bid is 0.4. If the architect is awarded the bid, she will make $30,000 minus the $12,000 cost for plans and a model. Complete parts a. through b. below. a. What is the expected value in this situation? $(Round to the nearest dollar.)

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