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A Company Bids on Two Contracts

Question 3

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A company bids on two contracts.It anticipates a profit of $50,000 if it gets the larger contract and a profit of $10,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 70% chance of winning the smaller contract.Create a probability model for the company's profit.Assume that the contracts will be awarded independently.


A)
A company bids on two contracts.It anticipates a profit of $50,000 if it gets the larger contract and a profit of $10,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 70% chance of winning the smaller contract.Create a probability model for the company's profit.Assume that the contracts will be awarded independently. A) B) C) D) E)
B)
A company bids on two contracts.It anticipates a profit of $50,000 if it gets the larger contract and a profit of $10,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 70% chance of winning the smaller contract.Create a probability model for the company's profit.Assume that the contracts will be awarded independently. A) B) C) D) E)
C)
A company bids on two contracts.It anticipates a profit of $50,000 if it gets the larger contract and a profit of $10,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 70% chance of winning the smaller contract.Create a probability model for the company's profit.Assume that the contracts will be awarded independently. A) B) C) D) E)
D)
A company bids on two contracts.It anticipates a profit of $50,000 if it gets the larger contract and a profit of $10,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 70% chance of winning the smaller contract.Create a probability model for the company's profit.Assume that the contracts will be awarded independently. A) B) C) D) E)
E)
A company bids on two contracts.It anticipates a profit of $50,000 if it gets the larger contract and a profit of $10,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 70% chance of winning the smaller contract.Create a probability model for the company's profit.Assume that the contracts will be awarded independently. A) B) C) D) E)

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