Two construction companies are bidding against one another for the right to construct a new community center building. The first construction company, Fine Line Homes, believes that its competitor, Buffalo Valley Construction, will place a bid for this project according to the distribution shown in this table:

Buffalo Valley's Bid Bid Probability

$160,000 0.3

$165,000 0.4

$170,000 0.2

$175,000 0.1

Furthermore, Fine Line Homes estimates that it will cost $160,000 for its own company to construct this building. Given its fine reputation and long-standing service within the local community, Fine Line Homes believes that it will likely be awarded the project in the event that it and Buffalo Valley Construction submit exactly the same bids. Find the bid that maximizes Fine Line's expected profit.

Max expected profit?

Bid that maximizes profit?