6.56 An aerospace company has submitted bids on two separate federal government defense contracts… 1 answer below »
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6.56 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%.
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?
6.57 A telemarketer calls people and tries to sell them
a subscription to a daily newspaper. On 20% of
her calls, there is no answer or the line is busy. She
sells subscriptions to 5% of the remaining calls. For
what proportion of calls does she make a sale?
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