Hubble Construction Company Has Submitted a Bid on a State

question 59

Multiple Choice

Hubble Construction Company has submitted a bid on a state government project that is to be funded by the federal government's stimulus money in Arizona. The price of the bid was predetermined in the bid specifications. The contract is to be awarded on the basis of a blind drawing from those who have bid. Five other companies have also submitted bids. What is the probability of the Hubble Construction Company winning the bid?

• A) 0.2778
• B) 0.1667
• C) 0.6944
• D) 0.0278

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Definitions:

Bank Statement

A document provided by a bank that summarizes an account holder's financial transactions over a specified period.

Unauthorized Check

An unauthorized check is a check that has been written and signed without the permission or authority of the account holder, often considered a form of fraud.

Reimburse

The act of compensating someone for money spent or costs incurred on someone else's behalf.

Litigation

The process of taking legal action or resolving disputes in court between individuals or parties.