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Score: 0 of 2 pts 1 4 of 10 (5 complete) HW Score 11.8.5 Question Help An architect is considering bidding for the design of

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Score: 0 of 2 pts 1 4 of 10 (5 complete) HW Score 11.8.5 Question Help An architect is considering bidding for the design of a new museum. The cost of drawing plans and submitting a model is $14,000. The probability of being awarded the bid is 0.2. If the architect is awarded the bid, she will make $70,000 minus the $14,000 cost for plans and a model. Complete parts a. through b. below. a. What is the expected value in this situation? $ (Round to the nearest dollar.)

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