Superior Construction Pte Ltd is a successful company
Question # 00350519
Posted By:
Updated on: 08/01/2016 02:34 AM Due on: 08/01/2016
Question
a
Superior Construction Pte Ltd is a successful company dealing with many major projects in Japan.
Recently, it has submitted its biddings for two major Government projects. Project A worth about
$120 million and the company believes it has 40% chance of securing the project.
Project B worth $1.8 billion and there is 30% chance the company can win the project. Both projects
are independent of each other. What is the probability that the company:
i.
will secure Project A or B but not both
ii.
will not secure Project A or will not secure Project B
(b) Do you agree that “if two events are mutually exclusive then these two events will be independent”?
Why?
(c) Provide one business-related example each, with explanation, for mutually exclusive and
independent events.
a
Superior Construction Pte Ltd is a successful company dealing with many major projects in Japan.
Recently, it has submitted its biddings for two major Government projects. Project A worth about
$120 million and the company believes it has 40% chance of securing the project.
Project B worth $1.8 billion and there is 30% chance the company can win the project. Both projects
are independent of each other. What is the probability that the company:
i.
will secure Project A or B but not both
ii.
will not secure Project A or will not secure Project B
(b) Do you agree that “if two events are mutually exclusive then these two events will be independent”?
Why?
(c) Provide one business-related example each, with explanation, for mutually exclusive and
independent events.
-
Rating:
/5
Solution: Superior Construction Pte Ltd is a successful company