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Statistics problem... probability... help needed please???
An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 40% probability of winning the first contract. If they win the first contract, the probability of winning the second is 70%. However, if they lose the first contract, the president thinks that the probability of winning the second contract decreases to 50%. Enter your answers to three decimal places. a.) What is the probability that they win both contracts? b.) What is the probability that they lose both contracts? c.) What is the probability that they win only one contract? 10 points for best answer!!!
Public Comments
- a) .40 x .70 = .28 = 28 % b) .60 x .50 = .30 = 30% c) 1.00 - .28 - .30 = .42 = 42% That's it!
- a) .40 * .70 = .280 b) .60 * .50 = .300 c) .40 * .30 + .60 * .50 = .420
- a) 0.4*0.7 b) 0.6*0.5 c) 0.4*0.3+0.6*0.5 do the computations yourself, please, i'm lazy
- to win both then multiply probability of both P(win both)=0.4*0.7=28% P(lose both)=(1-0.4)*(1-0.5)=30% P(win one)=probability of winning first losing second +probability of losing first winning second = 0.4*0.3+0.6*0.5=42% another way to do this: we know that only 3 possible scenarios can occur winning both, losing both and winning one but we know probability of winning and losing both so to calculate winning one just subtract them from 100% and you get remaining probability of winning one 100-28-30= 42% hope this helps
- a) .4 * .7 = 0.28 b) .6 * .5 = 0.30 c) .4 * .3 + .6 *.5 =0.42 All should add to 1 and they do :)
- Believe it or not, the Gov't likes to spread their money around and would only grant one contract to this Co. They obviously would not grant the first contract if that Pres. has any brains and realizes that he only has a 40% chance. Why would he assume the chances on winning the second contract would go down? He's an idiot! It's in the bag. Do you know Why? He has bribed the head of the U.S. procurement office. The probability of his winning the second contract is 1:1.
