A building contractor receives a new contract to consider. From past experience, he estimates that there is a 40% chance of

Question

A building contractor receives a new contract to consider. From past experience, he estimates that there is a 40% chance of making a $400,000 profit, a 40% chance of losing $300,000 and a 20% chance of losing $250,000. What Is the contractor's expected profit or loss from this contract?
$1000
$200,000
-$100,000
-$10,000

Kunduz · Accepted Answer

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