A construction company is currently bidding a job overseas in country

Concepcion Hale

Concepcion Hale

Answered question

2021-12-10

A construction company is currently bidding a job overseas in country X. The chance of winning the job depends on the current election results in country X. If party A wins the election, the chance of the company winning the job is 60%; otherwise ,there is only a 20% chance that the company will win the job. On the other hand, from poll data, the probability that party A will win the election is 0.85. compute the probability of the company's success in winning the job.

Answer & Explanation

lovagwb

lovagwb

Beginner2021-12-11Added 50 answers

Step 1
Let us denote the event of winning the job by C.
A= the event that party A wins
B= the event that party A does not win
Given that P(CA)=60%=0.60
P(CB)=10.60=0.40
P(A)=0.85
P(B)=10.85=0.15
Step 2
The probability of the companys

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