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An architect is considering bidding for the design of a new museum. The cost of...

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Basic Math

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An architect is considering bidding for the design of a new museum. The cost of drawing plans and submitting a model is $13,000. The probability of being awardedthe bid is 0.4. If the architect is awarded the bid, she will make $32,500 minus the $13,000 cost for plans and a model. Complete parts a. through b. below.a. What is the expected value in this situation?(Round to the nearest dollar.)

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