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

A company believes it has a 40% chance of being successful on bidding a contract that yields a net 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?

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A company believes it has a 40% chance of being successful on bidding a contract that yields a net profit of $30,000. Assume it costs $5,000 in consultant fees to prepare the bi…

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