Question: ABC Construction Company is determining whether it should submit a bid for a new shopping center. In the past, ABC is main competitor, XYZ construction
ABC Construction Company is determining whether it should submit a bid for a new shopping center. In the past, ABC is main competitor, XYZ construction company, has submitted 70% of the time. If XYZ Construction Company does not bid on a job, the probability that ABC will get the job is 0.5. If XYZ bids on a job, the probability that ABC will get the job is 0.25.
a. What is the probability that ABC Construction Company will get the job?
b. If ABC gets the job, what is the probability that XYZ did not bid?
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