Your company is submitting bids for two different projects, project A and project B. Based on their research, your company experts estimate that the probability of winning the bid for project A is 0.50 and the probability of winning the bid for project B is 0.30. Their research has also shown that if the company wins one bid, the chance of winning the other bid is reduced to half of the original probability.
Using this information, answer the following questions:
1) What is the probability of winning the bid both projects?
2) What is the probability of winning at least one of the bids?
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Project Guidelines
This project is worth 50 points. Use what you have learned about conditional probability and probability with unions and intersections to complete this project.
While you may work together to arrive at your answers for this project, everyone should turn in their own individual write up.
Your write up for this project should include:
1. Answers for each question in complete sentences.
2. All math steps used to arrive at your answers to each question.
3. A brief explanation of the method you used to get your answers to each question.
Remember…
• All written answers and explanations should be in complete sentences.
• You may type or handwrite the assignment, but remember you will be graded on neatness and the professional appearance of your final product as well as the accuracy of your answer!