# Question: As manager for a construction firm you are in charge

As manager for a construction firm, you are in charge of bidding on two large contracts. You believe the probability you get contract #1 is 0.8. If you get contract #1, the probability you also get contract #2 will be 0.2, and if you do not get #1, the probability you get #2 will be 0.4.

a) Sketch the probability tree.

b) What is the probability you will get both contracts?

c) Your competitor hears that you got the second contract but hears nothing about the first contract. Given that you got the second contract, what is the probability that you also got the first contract?

a) Sketch the probability tree.

b) What is the probability you will get both contracts?

c) Your competitor hears that you got the second contract but hears nothing about the first contract. Given that you got the second contract, what is the probability that you also got the first contract?

## Answer to relevant Questions

A recent survey found that, despite airline requests, about 40% of passengers don’t fully turn off their cell phones during takeoff and landing (although they may put them in “airplane mode”). The two passengers across ...A Mintel study asked consumers if electronic communications devices influenced whether or not they bought a certain car. The table on the next page gives the results classified by household income: If we select a person at ...In the real estate research described in Exercise 33, 64% of homes for sale have garages, 21% have swimming pools, and 17% have both features. a) What is the probability that a home for sale has a garage, but not a pool? b) ...Using the table from Exercise 7, a) What is the probability that a randomly selected U.S. adult who is a Republican believes that global warming is a serious issue? b) What is the probability that a randomly selected U.S. ...The probability model below describes the number of repair calls that an appliance repair shop may receive during an hour. a) How many calls should the shop expect per hour? b) What is the standard deviation?Post your question