SOLUTION: Two companies are bidding for two contracts,company A has a 75% chance and company B has a 25% chance. What is the probability that Company A will win both and of company A getting
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Question 168677: Two companies are bidding for two contracts,company A has a 75% chance and company B has a 25% chance. What is the probability that Company A will win both and of company A getting the first contract and Company B getting the second Answer by gonzo(654) (Show Source):
You can put this solution on YOUR website! company A has 75% chance for winning either one singly.
company B has a 25% chance for winning either one singly.
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chance company A gets both is 75% * 75% = 56.25%
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chance company B gets both is 25% * 25% = 6.25%
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chance company A gets first and company B gets second is 75% * 25% = 18.75%
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chance company B gets first and company A gets second is 25% * 75% = 18.75%
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sum of all probabilities should = 100%
56.25% + 6.25% + 18.75% + 18.75% = 100%
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total possible combinations was:
2 * 2 = 4
that would be:
AA
AB
BA
BB
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