Solve the problem.A commercial building contractor is trying to decide which of two projects to commit her company to. Project A will yield a profit of $50,000 with a probability of 0.6, a profit of $83,000 with a probability of 0.3, and a profit of $10,000 with a probability of 0.1.Project B will yield a profit of $100,000 with a probability of 0.1, a profit of $66,000 with a probability of 0.7, and a loss of $20,000 with a probability of 0.2.Find the expected profit for each project. Based on expected values, which project should the contractor choose?
A. Project A: $55,900
Project B: $60,200
Contractor should choose project B
B. Project A: $46,900
Project B: $52,200
Contractor should choose project B
C. Project A:$55,900
Project B: $52,200
Contractor should choose project A
D. Project A: $47,666
Project B: $48,666
Contractor should choose project A
Answer: C
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