SOLUTION: A firm has tendered for two independent contracts. It estimates that it has probability 0.4 of obtaining contract A and probability 0.1 of obtaining contract B. Find the probabilit
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Question 960574: A firm has tendered for two independent contracts. It estimates that it has probability 0.4 of obtaining contract A and probability 0.1 of obtaining contract B. Find the probability that the firm: (i) obtains both contracts. (ii) obtains neither of the contracts (iii) obtains exactly one contract. Pls solve it for me now Answer by rothauserc(4718) (Show Source):
You can put this solution on YOUR website! Probility(Pr)
i) Pr (both contracts occur) = (4/10) * (1/10) = 4/100 = .04
ii) Pr(neither contract occurs) = (6/10) * (9/10) = 54/100 = .54
note if Pr of getting contract is .4, then not getting contract is 1 - .4 = .6
iii) Pr (at least one contract occurs) = .4 + .1 = .5
