Solve the problem.
-A company estimates that it has a 30% chance of being successful in bidding on a $40,000 contract. If it costs $6000 in consultant fees to prepare the bid, what is the expected gain or loss for the Company if it decides to bid on this contract?
A) $6000.00
B) $17,017.92
C) $17,380.58
D) $17,200.43

Question

Quizplus · Accepted Answer

The Answer of Solve the problem.
-A company estimates that it has a 30% chance of being successful in bidding on a $40,000 contract. If it costs $6000 in consultant fees to prepare the bid, what is the expected gain or loss for the Company if it decides to bid on this contract?
A) $6000.00
B) $17,017.92
C) $17,380.58
D) $17,200.43

Solve the Problem. -A Company Estimates That It Has a 30% Chance of 30