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Tammy Is a General Contractor and Has Submitted Two Bids

question 125

Essay

Tammy is a general contractor and has submitted two bids for two projects (A and B). The probability of getting project A is 0.65. The probability of getting project B is 0.77. The probability of getting at least one of the projects is 0.90.
a.What is the probability that she will get both projects?
b.Are the events of getting the two projects mutually exclusive? Explain, using probabilities.
c.Are the two events independent? Explain, using probabilities.


Definitions:

Balance

A state of equilibrium or equal distribution of weight, elements, or interests.

Harvest Strategy

A business plan for either selling a company, shutting down operations, or passing it onto another generation, often after reaching a certain level of maturity or profitability.

Venture-Building

The process of creating new businesses, typically by entrepreneurs or corporations, to explore new market opportunities.

Outside Advice

Consultation or recommendations from external experts or professionals to aid in decision-making or project planning.

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