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A contractor is considering a job that will yield a profit of $20,278 with a probability of 72% or a loss of $11,909 with a probability of 28%. What is the expected value of this job to the contractor? Report your answer rounded to two decimal ples..

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A contractor is considering a job that will yield a profit of $20,278 with a probability of 72% or a loss of $11,909 with a probability of 28%. What is the expected value of this job to the contractor? Report your answer rounded to two decimal ples.

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  • 1. A contractor is considering a job that will yield a profit of $20,278 with a probability of 72% or a loss of $11,909 with a probability of 28%. What is the expected value of this job to the contractor? Report your answer rounded to two decimal ples.