An engineering firm is considering bidding on a small contract. It costs $5,000 to prepare the bid. If they win, the profit (excluding bid cost) is$40,000. The probability of winning is 30%. Calculate the Expected Value (EV) of the decision to bid.

A tech company must decide whether to develop a new software product ("Develop") or upgrade an existing one ("Upgrade"). Developing the new product costs $100,000. Upgrading costs$40,000. If they Develop, there's a 60% chance of high market demand (Revenue: $300,000) and a 40$50,000). If they Upgrade, there's a 70% chance of high demand (Revenue: $150,000) and a 30$80,000). Determine the best decision using Expected Value.

A mining company is considering exploring a new site. An initial geological survey costs $20,000. There is a 40 If positive, they can drill (cost:$100,000) with an 80% chance of finding ore worth $500,000 and a 20% chance of finding nothing. If negative, they abandon the project. Calculate the overall Expected Value of conducting the survey.

Identify whether the following scenarios represent a programmed or a non-programmed decision in an engineering firm.