SOLUTION: An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 41% probability of winning the first co
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Question 1032432: An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 41% probability of winning the first contract. If they win the first contract, the probability of winning the second is 75%. However, if they lose the first contract, the president thinks that the probability of winning the second contract decreases to 50%.
A. What is the probability that they win both contracts?
Probability =
B. What is the probability that they lose both contracts?
Probability =
C. What is the probability that they win only one contract?
Probability =
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 41% probability of winning the first contract. If they win the first contract, the probability of winning the second is 75%. However, if they lose the first contract, the president thinks that the probability of winning the second contract decreases to 50%.
A. What is the probability that they win both contracts?
Probability = P(W and W) = 0.41*0.75
B. What is the probability that they lose both contracts?
Probability = P(L and L) = 0.59*0.5
C. What is the probability that they win only one contract?
Probability = P(Win one) = 1 - [0.41*0.75+0.59*0.5]
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Cheers,
Stan H.
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