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4. A architect is considering bidding for the design of a new shopping mall. The cost of drawing plan a submitting a model is $10,000.

 

4. A architect is considering bidding for the design of a new shopping mall. The cost of drawing plan a submitting a model is $10,000. the probability being awarded the bid is 0.09, and anticipated profit are $100,000,resulting in a possible gain of this amount minus the $100,000 cost for plans and a model. What is the expected value in this situation?


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