Construction Bids ​

question 161

Short Answer

Construction Bids ​
A construction company has submitted bids on two separate state contracts,A and B.The company feels that it has a 60% chance of winning contract A,and a 50% chance of winning contract B.Furthermore,the company believes that it has an 80% chance of winning contract A if it wins contract B. ​ ​
-{Construction Bids Narrative} What is the probability that the company will win neither contract?

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Definitions:

Workforce

The total number of people engaged in or available for work, both employed and unemployed, within a specific country, industry, or company.

Employment Opportunities

Availability and provision of jobs to individuals within a community or society, vital for economic stability and growth.

Non-Aggression Pact

An international treaty between two or more countries agreeing to avoid war or armed conflict against each other and resolve disputes through peaceful means.

Soviet Union

A former federal socialist state in Eastern Europe and Northern Asia, existing from 1922 to 1991, known for its communist governance and being a principal player in global politics during the 20th century.