THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 137

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A general contractor has submitted two bids for two projects;A and B.The probability of getting project A is 0.60.The probability of getting project B is 0.75.The probability of getting at least one of the projects is 0.85.
-Are the events of getting the two projects mutually exclusive? Explain using probabilities.

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Definitions:

Agency Relationship

A legal bond in which one person, the agent, acts on behalf of another, the principal, in transactions with third parties.

Principal

In finance, the original amount of money invested or loaned, before interest.

Agent

An individual or entity authorized to act on behalf of another person or entity, known as the principal, in various transactions or negotiations.

Fiduciaries

Individuals or organizations entrusted to manage assets or decisions for another party, often with a legal obligation to act in the latter's best interest.