A construction company has submitted bids on two separate government contracts, A and B. The company feels that it has a 60% chance of winning contract A and 30% chance of winning contract B. Given that it wins contract B, the company believes that is has 80% chance of winning В. contract A. a) What is the probability that the company will win both contracts? b) What is the probability that the company will win at least one of the two contracts? c) If the company wins contract B, what is the probability that it will NOT win contract A?

A construction company has submitted bids on two separate government contracts, A and B. The company feels that it has a 60% chance of winning contract A and 30% chance of winning contract B. Given that it wins contract B, the company believes that is has 80% chance of winning В. contract A. a) What is the probability that the company will win both contracts? b) What is the probability that the company will win at least one of the two contracts? c) If the company wins contract B, what is the probability that it will NOT win contract A?

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter8: Pricing Generally

Section: Chapter Questions

Problem 4RQ

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