Two firms (V) and (W) consider bidding on a roadbuilding job, which may or may not be

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Two firms \(V\) and \(W\) consider bidding on a roadbuilding job, which may or may not be awarded depending on the amounts of the bids. Firm \(V\) submits a bid and the probability is 0.8 that it will get the job provided firm \(W\) does not bid. The probability is 0.7 that \(W\) will bid, and if it does, the probability that \(V\) will get the job is only 0.4.

(a) What is the probability that \(V\) will get the job?

(b) If \(V\) gets the job, what is the probability that \(W \operatorname{did}\) not bid?

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Probability And Statistics For Engineers

ISBN: 9780134435688

9th Global Edition

Authors: Richard Johnson, Irwin Miller, John Freund

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