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PLEASE HELP!! a company believes it has a 40% chance of being successful on bidding a contract that yields a profit of $30,000. Assume it costs $5,000 in consultant fees to prepare the bid. What is the
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PLEASE HELP!!

a company believes it has a 40% chance of being successful on bidding a contract that yields a profit of $30,000. Assume it costs $5,000 in consultant fees to prepare the bid. What is the expected gain or loss for the company if it decides to bid on the contract?

User KevinZ
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1 Answer

3 votes
(0.4×30,000)−5,000
=7,000
User Burmat
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