A Defense Contractor Has Submitted a Bid to Make New

question 53

Essay

A defense contractor has submitted a bid to make new helmets for the army.The defense contractor believes that the odds of winning the bid stand at 50-50 chance.Past history indicates that if the bid is successful,there is a 0.75 probability that the contractor will hear about the status of the bid within one week.There is also a 0.40 probability that the contractor will hear from the army within one week if the bid is unsuccessful.What is the probability that the bid is successful if the contractor hears about the status of the bid within one week? Use Bayes' theorem to compute this posterior probability.

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Definitions:

No-Kill Animal Shelters

A policy or practice of animal shelters where they commit to only euthanizing animals that are too sick to be treated or too aggressive to be safely adopted, rather than to control the population.

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing specific freedoms and rights to American citizens.

Commerce Clause

A provision in the U.S. Constitution granting Congress the power to regulate trade between states and with foreign nations.

Interstate Commerce

Commercial transactions or movement of goods and services across state borders, regulated by federal law in the United States.