Question

Construction company A is determining whether it should submit a bid for a new shopping center....

Construction company A is determining whether it should submit a bid for a new shopping center. In the​ past, their main​ competitor, construction company​ B, has submitted bids 70 % of the time. If company B does not bid on a​ job, the probability that company A will get the job is 0.40 . If company B bids on a​ job, the probability that company A will get the job is 0.25 .

a. If company A gets the​ job, what is the probability that company B did not​ bid?

b. What is the probability that company A will get the​ job?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Ii hope this will help you thank u

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Construction company A is determining whether it should submit a bid for a new shopping center....
Construction company A is determining whether it should submit a bid for a new shopping center. In the​ past, their main​ competitor, construction company​ B, has submitted bids 80 %80% of the time. If company B does not bid on a​ job, the probability that company A will get the job is 0.50 .0.50. If company B bids on a​ job, the probability that company A will get the job is 0.25 .0.25. a. If company A gets the​ job,...
The Chef and I is determining whether it should submit a bid to cater a wedding....
The Chef and I is determining whether it should submit a bid to cater a wedding. In the past, The Chef and I’s main competitor, Beyond Details, has submitted bids 60% of the time.If Beyond Details does not bid on a job, the probability that The Chef and I will get the job is 0.70. If Beyond Details bids on a job, the probability that The Chef and I will get the job is 0.10. (a) If The Chef and...
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract...
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract to build a new plant for a major manufacturer. Based on the specifications of the new plant, Reliable has estimated what the company’s total cost would be if it were to undertake the project. Reliable estimates that the project would cost $4.55 million (M) and are thinking about bidding $5.4 M in the proposal. Reliable also estimates that the cost of preparing a proposal...
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract...
Reliable Construction Company Reliable Construction Company is deciding how much they will bid for a contract to build a new plant for a major manufacturer. Based on the specifications of the new plant, Reliable has estimated what the company’s total cost would be if it were to undertake the project. Reliable estimates that the project would cost $4.55 million (M) and are thinking about bidding $5.4 M in the proposal. Reliable also estimates that the cost of preparing a proposal...
A building contractor is preparing a bid on a new construction project. Two other contractors will...
A building contractor is preparing a bid on a new construction project. Two other contractors will be submitting bids for the same project. Based on past bidding practices, bids from the other contractors can be described by the following probability distributions: Contractor Probability Distribution of Bid A Uniform probability distribution between $570,000 and $770,000 B Normal probability distribution with a mean bid of $670,000 and a standard deviation of $47,000 If required, round your answers to three decimal places. If...
Problem 12-18 (Algorithmic) A building contractor is preparing a bid on a new construction project. Two...
Problem 12-18 (Algorithmic) A building contractor is preparing a bid on a new construction project. Two other contractors will be submitting bids for the same project. Based on past bidding practices, bids from the other contractors can be described by the following probability distributions: Contractor Probability Distribution of Bid A Uniform probability distribution between $530,000 and $730,000 B Normal probability distribution with a mean bid of $630,000 and a standard deviation of $43,000 If required, round your answers to three...
A construction company has bid on two contracts. The probability of winning contract A is 0.35....
A construction company has bid on two contracts. The probability of winning contract A is 0.35. Given the company wins contract A, the probability of winning contract B is 0.40. Given the company loses contract A, the probability of winning contract B decreases to 0.25. Given the information that the company won contract B, what is the probability that they also won contract A? 0.4628 0.5185 0.5895 0.4179 0.1400
Problem 12-18 (Algorithmic) A building contractor is preparing a bid on a new construction project. Two...
Problem 12-18 (Algorithmic) A building contractor is preparing a bid on a new construction project. Two other contractors will be submitting bids for the same project. Based on past bidding practices, bids from the other contractors can be described by the following probability distributions: Contractor Probability Distribution of Bid A Uniform probability distribution between $600,000 and $800,000 B Normal probability distribution with a mean bid of $700,000 and a standard deviation of $50,000 If required, round your answers to three...
A construction company has bid on two contracts. The probability of winning contract A is 0.35....
A construction company has bid on two contracts. The probability of winning contract A is 0.35. Given the company wins contract A, the probability of winning contract B is 0.40. Given the company loses contract A, the probability of winning contract B decreases to 0.15. Given the information that the company won contract B, what is the probability that they also won contract A?
One of the factors that a company will use in determining whether it will locate a...
One of the factors that a company will use in determining whether it will locate a new Italian restaurant at a particular location is its distance from local college students. The managers believe that an important measure of distance is the average walking time from the most popular bar in town.   For a particular site, they believe that if the mean walking time is 8 minutes. To test this in a particular location, a random sample of n = 50...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT