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November 23, 2014

Homework Help: Intro to Probability

Posted by Amelie on Saturday, February 23, 2008 at 7:14pm.

two construction contracts are to be randomly assigned to one or more of 3 firms- I,II,III. A firm may receive more than one contract. if each contract has a potential profit of 90,000 dollars. find the expected potential profit for firm I. then find the expected potential profit for firms I and II together.
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Can i start by using the expected value formula?

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