A small software company bids on two contracts It

Last updated: 11/29/2023

A small software company bids on two contracts It anticipates a profit of 30 000 if it gets the lan company estimates that there is a 35 chance it will get the larger contract and a 61 chance it will get the smaller contract If the company does not get either contract it will neither gain nor lose money Assuming the contracts will be awarded independently what s the expected profit E X CICCEID