1 A marketing firm has bid on two projects The probability o

1.   A marketing firm has bid on two projects. The probability of winning project A is .4. If the firm wins project A, the probability of winning project B is .6. If the firm loses project A, the probability of winning project B decreases to .3. Find the probability of the following events.

a. Winning both projects.

b. Winning exactly one project.

c. Winning at least one project.

Solution

A marketing firm has bid on two projects. The probability of winning project A is .4. If the firm wins project A, the probability of winning project B is .6. If the firm loses project A, the probability of winning project B decreases to .3.

a.The probability of Winning both projects=0.4*0.6=0.24

b.Probability of winning at least one project =0.4*0.6+0.6*0.4=0.24+0.24=0.48