Mathematics, 18.03.2021 02:10 kaylatunell123

An architect is considering bidding for the design of a new museum. The cost of drawing plans and submitting a model is $18,000.

The probability of being awarded the bid is

0.2.

If the architect is awarded the bid, she will make

$90,000

minus the

$18,000

cost for plans and a model. Complete parts a. through b. below.

a. What is the expected value in this situation?

(Round to the nearest dollar)

Answers: 1

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An architect is considering bidding for the design of a new museum. The cost of drawing plans and su...