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help with this probability question. please!!

based on past experience ,, , a systems engineer sets the probability of winning a computer contract at 0.25 .the contract is worth $10,000 and the engineer calculates it would cost her $1800 to prepare a contract proposal.

a) find the expected value of the contract proposal. b) how much will the engineer gain if she wins the contract. c) how much will the engineer lose if she does not win the contract? d) is it financially a good idea for the engineer to bid on the contract? e) name some other factors she might consider in deciding whether to bid on the contract.

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Answer #1

ok well this is either really easy or really tricky (or maybe I’m over thinking it)

b. 8200 ? c. 1800 ? d. she has a 75% chance of losing 1800 and a 25% chance of gaining 8200… you decide whether its a good idea…

if you can put an example given in class, and the answers, it would help a lot…

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