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July 25, 2014

Homework Help: MATH

Posted by Dominika on Wednesday, April 3, 2013 at 3:50pm.

An engineering consultant bids on jobs where he can make $10000 profit. If in a certain month, he has a 20% probability of getting a contract, 30% probability of getting 2 contracts, 40% probability of getting 3 contracts, and 10% probability of getting 4 contracts, what is the consultant’s expected profit for that month?

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