please answer in 30 mins. and only if you are sure. ACME company is considering on bidding 3,000, 3400, or 3,800 (or not bidding at all) on a job. The charity will choose the lowest bid. ACME estimates that it will cost $235 to prepare a bid and labour and material costs of $2,500 if they win the contract. Based on past contracts of this type, ACME believes it can speculate on thr values of the possible low bids from the competition, if there's any competition, and the associated probabilities are shown: competitors bid amount (if any) Less than $3000. Probability (0.45) Greater than or equal to $3,000 but less than 3,400 Probability (0.33) Greater than or equal to 3,400 but less than 3,800 Probability (0.18) Greater than or equal to 3,800 . Probability (0.04) Can someone help me calculate the profit for the payoff table?

please answer in 30 mins. and only if you are sure. ACME company is considering on bidding 3,000, 3400, or 3,800 (or not bidding at all) on a job. The charity will choose the lowest bid. ACME estimates that it will cost $235 to prepare a bid and labour and material costs of $2,500 if they win the contract. Based on past contracts of this type, ACME believes it can speculate on thr values of the possible low bids from the competition, if there's any competition, and the associated probabilities are shown: competitors bid amount (if any) Less than $3000. Probability (0.45) Greater than or equal to $3,000 but less than 3,400 Probability (0.33) Greater than or equal to 3,400 but less than 3,800 Probability (0.18) Greater than or equal to 3,800 . Probability (0.04) Can someone help me calculate the profit for the payoff table?

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter10: Sequences, Series, And Probability

Section10.2: Arithmetic Sequences

Problem 67E

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