Mathematics, 14.01.2021 06:20 ToonGamesToo
A construction company is considering submitting bids for two contracts. It will cost the company $10,000 to prepare and submit the bids, and if won, each bid would produce $50,000 of income to the company. The company estimates that it has a 10% chance of winning any given bid.
Here is the probability distribution of X= the number of bids the company wins, and M = the amount of money the company profits from the bids.
Find the mean of X
Answers: 2
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A construction company is considering submitting bids for two contracts. It will cost the company $1...
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