1) Suppose you have been hired by Carpets R Us to build a new driveway in front of their building. In your contract with Carpets R Us you have agreed to have the driveway completed in exactly 3 weeks, and you will be paid $5,000 less if you are even a day late. You can purchase your concrete from Company A, who charges more for concrete or you could purchase your concrete from Company B, who charges less for concrete. Obviously, you would prefer to pay less for the concrete, but need to factor in the likelihood that each company will be late and make you lose $5,000 of your payment. The table below shows your expected profits from buying concrete from each company: Hire Company A Hire Company B Profits if the company delivers on time $12,000 $14,000 a) $9,500; $11,500 b) $7,000; $9,000 Profits if the company delivers late $7,000 $9,000 Assume that initially you do not know the probability that each company will be late, only the profits if they are late and if they deliver on time, as shown above. In this cas