question archive A building contractor tenders for a government office block and a sports gymnasium
A building contractor tenders for a government office block and a sports gymnasium
Subject:StatisticsPrice:2.87 Bought7
A building contractor tenders for a government office block and a sports gymnasium. The office contract is to proceed first and the contractor estimates that his firm has a 65% chance of being awarded this contract. If he fails to win the office contract, the contractor believes he has a 61% chance of winning the gym contract, though if successful with the office contract he believes the chance of winning the gym contract falls to 34%. Determine the probability that the contractor wins both of the contracts (as a decimal to 3 decimal places).
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Answer:
The probability that the contractor wins both of the contracts will be
= 0.65*0.34 = 0.221 or 22.1 percent chances are there that contractor will win both the contracts.
(The reason being that the probability of winning office contract is 65%, if he wins this contract, the chances of winning the gym contract is 34%)
