Hubble Construction Company Has Submitted a Bid on a State

question 18

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. Suppose that there are two contracts to be awarded by a blind draw. What is the probability of Hubble winning both contracts? Assume sampling with replacement.

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

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Definitions:

Emissions Fee

A charge levied on the production, use, or release of pollutants, aiming to reduce environmental harm by incentivizing cleaner practices.

Optimum Level

The most advantageous condition or degree of something where the optimal balance or efficiency is achieved.

Fixed Annual Fee

A fixed annual fee is a set amount charged yearly for access to a product or service, unrelated to usage levels.

Trash Disposal

involves the collection, processing, managing, and recycling or disposal of waste materials produced by human activity.