A company bids on two contracts.It anticipates a profit of $70,000 if it gets the larger contract and a profit of $30,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 60% chance of winning the smaller contract.Find the standard deviation of the company's profit.Assume that the contracts will be awarded independently.
A)$30,758
B)$24,863
C)$25,632
D)$29,477
E)$28,195

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The Answer of A company bids on two contracts.It anticipates a profit of $70,000 if it gets the larger contract and a profit of $30,000 if it gets the smaller contract.It estimates that there's a 10% chance of winning the larger contract and a 60% chance of winning the smaller contract.Find the standard deviation of the company's profit.Assume that the contracts will be awarded independently.
A)$30,758
B)$24,863
C)$25,632
D)$29,477
E)$28,195

A Company Bids on Two Contracts