In a few weeks the agency to which the bid was submitted


You work for a consulting firm, and have submitted a bid for a large consulting contract. The firm's management thinks it has a 50-50 chance of landing the project.

In a few weeks, the agency to which the bid was submitted sent in a request for additional information. The firm's past experience indicates that the agency asked for additional information for 72.8% of successful bids and 24.6% of unsuccessful bids.

What is the probability that this particular bid will be successful, given that the request for additional information happened?

Enter answer in percents, accurate to two decimal places.

Request for Solution File

Ask an Expert for Answer!!
Financial Management: In a few weeks the agency to which the bid was submitted
Reference No:- TGS02806140

Expected delivery within 24 Hours