SOLUTION: Thank you in advance for your help. I'm not understanding how to set up these problems or how to solve them. An aerospace company has submitted bids on two separate federal gov

Question 860994: Thank you in advance for your help. I'm not understanding how to set up these problems or how to solve them.
An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 44% probability of winning the first contract. If they win the first contract, the probability of winning the second is 67%. However, if they lose the first contract, the president thinks that the probability of winning the second contract decreases to 54%.
A. What is the probability that they win both contracts?
Probability =
I've tried squaring the percentages of .44*.67 together. I've tried adding .44 and .67, then squaring it. I've tried squaring .67 by itself.
B. What is the probability that they lose both contracts?
Probability =
I've tried taking the differences of winning the contracts and (like the above problem) different combinations of combining and/or squaring.
C. What is the probability that they win only one contract?
Probability =
I know that if the company loses the first contract, they can still get the second contract, which I think is key. I just don't know how to set it up.
Thanks again. Anything to help would be appreciated.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
P(win both contract) =
P(lose both) = 1 - P(win both)
P(win one 0r the other) = .44 + .54
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