A construction company has submitted bids on two separate government contracts, A and B. The company feels that it has a 60% chance of winning contract A and 30% chance of winning contract B. Given that it wins contract B, the company believes that is has 80% chance of winning В. contract A. a) What is the probability that the company will win both contracts? b) What is the probability that the company will win at least one of the two contracts? c) If the company wins contract B, what is the probability that it will NOT win contract A?

Fundamentals Of Construction Estimating
4th Edition
ISBN:9781337399395
Author:Pratt, David J.
Publisher:Pratt, David J.
Chapter8: Pricing Generally
Section: Chapter Questions
Problem 4RQ
icon
Related questions
icon
Concept explainers
Question
A construction company has submitted bids on two separate government contracts, A and B.
The company feels that it has a 60% chance of winning contract A and 30% chance of winning
contract B. Given that it wins contract B, the company believes that is has 80% chance of winning
В.
contract A.
a) What is the probability that the company will win both contracts?
b) What is the probability that the company will win at least one of the two contracts?
c) If the company wins contract B, what is the probability that it will NOT win contract A?
Transcribed Image Text:A construction company has submitted bids on two separate government contracts, A and B. The company feels that it has a 60% chance of winning contract A and 30% chance of winning contract B. Given that it wins contract B, the company believes that is has 80% chance of winning В. contract A. a) What is the probability that the company will win both contracts? b) What is the probability that the company will win at least one of the two contracts? c) If the company wins contract B, what is the probability that it will NOT win contract A?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Design Team
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, civil-engineering and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Fundamentals Of Construction Estimating
Fundamentals Of Construction Estimating
Civil Engineering
ISBN:
9781337399395
Author:
Pratt, David J.
Publisher:
Cengage,
Traffic and Highway Engineering
Traffic and Highway Engineering
Civil Engineering
ISBN:
9781305156241
Author:
Garber, Nicholas J.
Publisher:
Cengage Learning
Engineering Fundamentals: An Introduction to Engi…
Engineering Fundamentals: An Introduction to Engi…
Civil Engineering
ISBN:
9781305084766
Author:
Saeed Moaveni
Publisher:
Cengage Learning
Residential Construction Academy: House Wiring (M…
Residential Construction Academy: House Wiring (M…
Civil Engineering
ISBN:
9781285852225
Author:
Gregory W Fletcher
Publisher:
Cengage Learning
Construction Materials, Methods and Techniques (M…
Construction Materials, Methods and Techniques (M…
Civil Engineering
ISBN:
9781305086272
Author:
William P. Spence, Eva Kultermann
Publisher:
Cengage Learning
Architectural Drafting and Design (MindTap Course…
Architectural Drafting and Design (MindTap Course…
Civil Engineering
ISBN:
9781285165738
Author:
Alan Jefferis, David A. Madsen, David P. Madsen
Publisher:
Cengage Learning