An import-export firm has a 0.45 chance of concluding a deal to export agricultural equipment to a

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An import-export firm has a 0.45 chance of concluding a deal to export agricultural equipment to a developing nation if a major competitor does not bid for the contract, and a 0.25 probability of concluding the deal if the competitor does bid for it. It is estimated that the competitor will submit a bid for the contract with probability 0.40. What is the probability of getting the deal?
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Complete Business Statistics

ISBN: 9780077239695

7th Edition

Authors: Amir Aczel, Jayavel Sounderpandian

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