A Law Firm Has Submitted Bids on Two Separate State

question 82

Short Answer

A law firm has submitted bids on two separate state contracts, A and B.The company feels that it has a 40% chance of winning contract A, and a 60% chance of winning contract B.Furthermore, the company believes that it has a 75% chance of winning contract B, given that it wins contract A. What is the probability that the firm will win at most one of the two contracts?

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Definitions:

Critical Path Analysis

A technique used in project management to identify the sequence of dependent tasks that determine the minimum overall duration of a project.