How can I answer both A and B using excel? Construction company A is determining whether it should submit a bid for a new shopping center. In the past, their main competitor, construction company B, hassubmitted bids 60% of the time. If company B does not bid on a job, the probability that company A will get the job is 0.50. If company B bids on a job, the probabilitythat company A will get the job is 0.25.a. If company A gets the job, what is the probability that company B did not bid?b. What is the probability that company A will get the job?

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How can I answer both A and B using excel?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.8: Probabilities Of Disjoint And Overlapping Events

Problem 2C

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Question

How can I answer both A and B using excel?

Construction company A is determining whether it should submit a bid for a new shopping center. In the past, their main competitor, construction company B, has
submitted bids 60% of the time. If company B does not bid on a job, the probability that company A will get the job is 0.50. If company B bids on a job, the probability
that company A will get the job is 0.25.
a. If company A gets the job, what is the probability that company B did not bid?
b. What is the probability that company A will get the job?

Expert Solution

Step 1

Given:

P (B) = 0.60

P (A | B') = 0.50

P (A | B) = 0.25

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