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Question 3. A firm makes a bid on a contract, where it may get the contract, not get it, or may be forced to share

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Question 3. A firm makes a bid on a contract, where it may get the contract, not get it, or may be forced to share the contract with another firm. The firm recieves no profit if they do not get the contract, a profit of $50000 if they get the contract wihtout a partner and a profit of $20000 if they must share the project. The chance they do not get the project is 40%, there is a 30% chance they get the project and the same chance they have to share it. (a) Define a random variable that measures profit and write down its distribution. (b) When the firm makes a bid, what is the expected level of profit

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