An aerospace company has submitted bids on two separate federal government defen

Question

An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 35% probability of winning the first contract. If they win the first contract, the probability of winning the second is 75%. However, if they lose the first contract, the president thinks that the probability of winning the second contract decreases to 45%.What is the probability that they win both contracts Probability = What is the probability that they lose both contracts Probability = What is the probability that they win only one contract Probability =

Explanation / Answer

Given Probability of winning the first contract = 0.35

If they win the first contract, then the probability of winning the second contract is 0.75

if they lose,then the probability of winning the second contract is 0.45

A. The probability that they win both the contracts is 0.35*0,75=0.2625

B. The probability that they lose both the contracts is 0.65*0.55 =0.3575

C. The probability that they will win only one contract is 0.35*0.25+0.65*0.45 = 0.0875+0.2925 =0.38

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