Question: State Line Construction is taking on two projects in 2022. The first project is a condominium building in downtown Philadelphia. If they do not finish

State Line Construction is taking on two projects in 2022. The first project is a condominium building in downtown Philadelphia. If they do not finish the project on time there are penalties. They have a 65% probability of finishing on time which results in no penalty. They have a 35% chance of being late which will result in a $10,000 penalty. The second project is a new football stadium on the Temple campus. If they do not finish the project on time there are penalties. They have a 25% chance of finishing on time which results in no penalty. They have a 75% chance of being late which will result in a $25,000 penalty.

a. What is the probability that both projects will be completed on time?

b. What is the probability that both projects will be late?

c. What is the expect cost (penalty) of the projects that State Line is doing for 2022?

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