Solve a to b

A construction company is planning to bid on a building contract. The bid costs the company $1200. The probability that the bid is accepted is 5 If the bid is accepted, the company will make $16,750 minus the cost of the bid. a. What is the expected value in this situation? $(Round to the nearest dollar.) b. Choose the statement below that best describes what this value means. O A. In the long run, the construction company would expect to earn this amount on average per bid B. In the long run, the construction company would expect to lose this amount on average per bid O C. In the long run, the construction company would expect to break even on average. O D. None of the above