Construction of an expensive home requires

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Reference no: EM13337910

A contractor must pay a 40,000 penalty if construction of an expensive home requires more than 16 weeks. He will receive a bonus of 10,000 if the home is completed within 8 weeks. Based on experience with type of project,the contraactor feels there is 0.2 chance the home will require more than 16 weeks for competion,and there is a 0.3 chance it will be finished within 8 weeks. If the price of the home is 350,000 before any penalty or bonus adjustment,how much can the buyer expect to pay for her new home when it is completed?

Reference no: EM13337910

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