Your company is submitting bids for two different projects, project A and projec

Question

Your company is submitting bids for two different projects, project A and project B. Based on their research, your company experts estimate that the probability of winning the bid for project A is 0.28 and the probability of winning the bid for project B is 0.42. Their research has also shown that if the company wins one bid, the chance of winning the other bid is reduced to half of the original probability.

Using this information, answer the following questions:

What is the probability of winning both bid projects?
What is the probability of winning at least one of the bids?

Explanation / Answer

p(a) = .28

p(b) = .42

What is the probability of winning both bid projects?

P(A and B) = P(A)*p(B) = .28*.42 =

What is the probability of winning at least one of the bids?

p(a) + p(b)

=.28 + .42

=.70

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