A contractor has submitted bids on three state jobs: an office building, a theater, and a parking garage. State rules do not allow acontractor to be offered more than one of these jobs. If this contractor is awarded any of these jobs, the profits earned from thesecontracts are: $12 million from the office building, $6 million from the theater, and $2 million from the parking garage. His profit iszero if he gets no contract. The contractor estimates that the probabilities of getting the office building contract, the theater contract,the parking garage contract, or nothing are 0.19,0.30,0.40, and 0.11, respectively. Let x be the random variable that represents thecontractor's profits in millions of dollars. Write the probability distribution of x. Find the mean and standard deviation of x.Round your answers to three decimal places, if required.Mean =iStandard deviation =i

Answer: Using the given data, We get,

Answered: A contractor has submitted bids on…

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter2: Working With Real Numbers

Section2.3: Rules For Addition

Problem 8P

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