2. Calculate the expected profits for each of the following scenarios: a. There is a 0.25 probability that you have profits of 10, a 0.40 probability that you have profits of 15, and a 0.35 probability that your profits are 20. b. You produce 100 units at a cost of $20 each, but you are uncertain about the price you will receive for your goods. The price you will receive is either $15 or $30, each having equal probability. c. You win a contract for $5,000, but you are unsure how much time it will actually take you to fulfill the terms of the contract. Each hour you spend on the project costs you $50. There is a 30% chance that the project goes smoothly and you can complete the contract in 50 hours. There is a 50% chance that the project takes 80 hours. Finally, there is a 20% chance that the project takes much more time than you thought, and it takes you 110 hours to complete.