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A local pharmaceutical company believes it has a 40% chance of being successful on bidding a contract with the Department of Health that yields a profit of 3,000,000 php. Assuming that it costs 500,000 php in consultancy fees to prepare the bid. What is the expected gain or loss for the company if it decides to bid on the contract? Note: Express your answer in the nearest whole number. Also, do not include the currency symbol for your answers. Blank 1 Blank 1 Add your answer

A local pharmaceutical company believes it has a 40% chance of being successful on bidding a contract with the Department of Health that yields a profit of 3,000,000 php. Assuming that it costs 500,000 php in consultancy fees to prepare the bid. What is the expected gain or loss for the company if it decides to bid on the contract? Note: Express your answer in the nearest whole number. Also, do not include the currency symbol for your answers. Blank 1 Blank 1 Add your answer

Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
Problem 8P
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A local pharmaceutical company believes it has a 40% chance of being successful on bidding a contract with the Department of Health that yields a profit of 3,000,000 php. Assuming that it costs 500,000 php in consultancy fees to prepare the bid. What is the expected gain or loss for the company if it decides to bid on the contract? Note: Express your answer in the nearest whole number. Also, do not include the currency symbol for your answers. Blank 1 Blank 1 Add your answer
Transcribed Image Text:A local pharmaceutical company believes it has a 40% chance of being successful on bidding a contract with the Department of Health that yields a profit of 3,000,000 php. Assuming that it costs 500,000 php in consultancy fees to prepare the bid. What is the expected gain or loss for the company if it decides to bid on the contract? Note: Express your answer in the nearest whole number. Also, do not include the currency symbol for your answers. Blank 1 Blank 1 Add your answer
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