A construction company is planning to bid on a building contract. The bid costs the company $1300. the probability that the bid is accepted is 2/5. If the bid is​ accepted, the company will make $9,500 minus the cost of the bid. what is the expected value in this​ situation?   Choose the statement below that best describes what this value means. A. In the long​ run, the construction company would expect to break even on average.   B. In the long​ run, the construction company would expect to lose this amount on average per bid.   C. In the long​ run, the construction company would expect to earn this amount on average per bid.   D. None of the above.

ony runs a cell phone kiosk in the mall and has 244 potential customers each day. He has a 7 % chance to make a sale to each customer. Use continuity correction to normally approximate the following probabilities.Round to 4 decimal places.a. The probability that he makes AT LEAST 18 sales   b. The probability that he makes AT MOST 16 sales

You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest cent

Answer #30 please. Show work.

A gambler uses theory to calculate the probability of winning a card game and gets​ P(winning) = 0.10. Which option best describes the meaning of this​ probability?   A. He will win 10 times   B. In the long run he will win approximately​ 10% of the time   C. He will win on every 10th play   D. He is guaranteed to win exactly​ 10% of the time

Solve using a graphing calculator. (Show your solution)

The annual premium for a $20,000 insurance policy against the theft of a painting is $300. If the probability that the painting will be stolen during the year is 0.02, what is your expected return from the insurance company if you take out this insurance?   Upload your answer with your work and explanations here

Your friend convinces you to play a game where you roll a standard die one time. It costs $5 to play the game. If you roll a 3 or a 4 you win $9. Any other roll wins nothing. 4. Find the expected value of this game.