Road-building job


Two firms V and W consider bidding on a road-building job, which may or may not be awarded depending on the amounts of the bids. Firm v submits a bid and the probability that it will get the job is 3/4 provided firm W does not bid. The probability is 3/4 that W will bid and if it does the probability that V will get the job is only 1/3.

a. What is the probability that V will get the job?

b. If V gets the job, what is the probability that W did not bid?

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Basic Statistics: Road-building job
Reference No:- TGS0844712

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