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Mathematics, 30.03.2021 03:40 langel7373

10) 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 0.09, 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? Answers without any work shown will

receive no credit.

A) $8000

B) $9000

C) -$1000

D) $8100

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Answers: 1

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