Question:Construction company A is determining whether it should submit
a bid for a new shopping center....
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 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, what is the probability that
company B did not bid?
b. What is the probability that company A will get the
job?