Question: When making a decision with uncertain outcomes, which analytic technique is a good starting point? Explain. For example, a contractor generally wins 1 in 3

 When making a decision with uncertain outcomes, which analytic technique is

When making a decision with uncertain outcomes, which analytic technique is a good starting point? Explain. For example, a contractor generally wins 1 in 3 proposals. If each winning proposal earns a profit of $1000, what technique will tell him his average profit on 10 proposals

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