A construction company is planning to bid on a building contract. The bid costs the company $1000. The probability that the bid gets accepted is 1/5....

A construction company is planning to bid on a building contract. The bid costs the company $1000. The probability that the bid gets accepted is 1/5.if the bid is accpeted the company will make 25000 minus the cost of the bid.

a.  What is the expected value in this​ situation?

b.  Choose the statement below that best describes what this value means.

A.

In the long​ run, the construction company would expect to break even on average.

B.

In the long​ run, the construction company would expect to lose this amount on average per bid.

C.

In the long​ run, the construction company would expect to earn this amount on average per bid.

D.

None of the above.