SOLUTION: A firm submits tenders for two different contracts. The tenders will be assessed independently. The probability that the first tender will be accepted is70%. And the probability t

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Question 1054896: A firm submits tenders for two different contracts. The tenders will be assessed independently. The probability that the first tender will be accepted is70%. And the probability that the second tender will be successful is 40% . Q1 What's the probability that only first will be successful ? Q2 what's the probailty that the first or the second will be successful ? ........ My solution for Q1 is 1-p(1)=0.3 and my solution for Q2 is 0.7+0.4=1.1 ......Could you please tell me if I'm right or wrong. Thank you
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
P(1st one Successful) = .70
P(2nd one Successful) = .40
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P(1st AND not 2nd) = .70(.60)
P(1st Or 2nd) = .70 + .40 - both(.70*.40)