Olive Construction Company is determining whether it should submit a bid for a new shoppingcenter. In the past, Olive's main competitor, Base Construction Company, has submitted bids70% of the time. If Base Construction Company does not bid on a job, the probability that OliveConstruction Company will get the job is 0.50. If Base Construction Company bids on a job, theprobability that Olive Construction Company will get the job is 0.25.
Olive Construction Company is determining whether it should submit a bid for a new shoppingcenter. In the past, Olive's main competitor, Base Construction Company, has submitted bids70% of the time. If Base Construction Company does not bid on a job, the probability that OliveConstruction Company will get the job is 0.50. If Base Construction Company bids on a job, theprobability that Olive Construction Company will get the job is 0.25.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
![If Olive Construction Company gets the job, what is the probability that
Base ConstructionCompany did not bid?
.15
.1764
O .4615
.525](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcdd8481c-6635-4f27-b260-3ac85dff9d75%2Fc056cde6-2abc-49d7-90ae-5f6bb182e6b0%2Fc62myiy_processed.png&w=3840&q=75)
Transcribed Image Text:If Olive Construction Company gets the job, what is the probability that
Base ConstructionCompany did not bid?
.15
.1764
O .4615
.525
![Olive Construction Company is determining whether it should submit a bid
for a new shoppingcenter. In the past, Olive's main competitor, Base
Construction Company, has submitted bids70% of the time. If Base
Construction Company does not bid on a job, the probability that
OliveConstruction Company will get the job is 0.50. If Base Construction
Company bids on a job, theprobability that Olive Construction Company will
get the job is 0.25.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcdd8481c-6635-4f27-b260-3ac85dff9d75%2Fc056cde6-2abc-49d7-90ae-5f6bb182e6b0%2F6l6b4z_processed.png&w=3840&q=75)
Transcribed Image Text:Olive Construction Company is determining whether it should submit a bid
for a new shoppingcenter. In the past, Olive's main competitor, Base
Construction Company, has submitted bids70% of the time. If Base
Construction Company does not bid on a job, the probability that
OliveConstruction Company will get the job is 0.50. If Base Construction
Company bids on a job, theprobability that Olive Construction Company will
get the job is 0.25.
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