Business, 20.12.2019 20:31 zeesharpe05

An architect is considering bidding for the design of a new shopping mall. the cost of drawing plans and submitting a model is $10,000. the probability of being awarded the bid is 0.12, and anticipated profits are $100,000, resulting in a possible gain of this amount minus the $10,000 cost for plans and a model. what is the expected value in this situation?

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An architect is considering bidding for the design of a new shopping mall. the cost of drawing plans...

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