An excavation work has to be carried out for the construction of an underground water tank.
Sheet piling and open cutting are the alternatives under consideration.
A contractor is faced with the decision of whether or not to bid on one of two heavy construction projects, a dam or a highway. He wants to choose only one of the projects. He may also choose not to bid on either of the projects. For either the dam or highway project, the contractor has the option of bidding either high or low. From past records of bids made on similar types of projects, he is able to obtain estimates of the probability of being awarded the contract.