Question: Consider yourself and your competitor submitting bids on the City of Montreal contracts. Past data indicates your competitor has submitted bids 75% of the time.

Consider yourself and your competitor submitting bids on the City of Montreal contracts. Past data indicates your competitor has submitted bids 75% of the time. The chance that you win a contract will be 25% if the competitor bids on the contract. However, your chance to win a contract will increase to 70% if the competitor does not bid on the contract.What is the probability that your competitor will bid and you will lose the contract? QUESTION COMPLETE

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