Consolidated Builders has bid on two large construction projects. Define the eve

Question

Consolidated Builders has bid on two large construction projects. Define the events: A=winning the first contract, and B= winning the second contract. Given that P(A)=.55, P(B)=050, and P(A and B)=.20 Find the probability of the event that Consolidated will win contract A or B. You hear that Consolidated won the first contract. Given this information, what is the conditional probability that Consolidated will win the second contract? What is the orobabilitv that Consolidated did not win anv contract?

Explanation / Answer

a)

P(A or B) = P(A) + P(B) - P(A AND B) = 0.55+0.50-0.20 = 0.85

b)

P(B|A) = P(A and B)/P(A) = 0.20/0.55 = 0.3636

c)

P(consolidated did not win any contract) = 1 - P(A or B) = 1- 0.85 = 0.15

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.