Answer:
(a) 0.50
(b) 0.75
(c) 0.6522
Step-by-step explanation:
We are given that the firm’s management initially had a 50–50 chance of getting the project.
Let Probability of getting a project or bid being successful, P(S) = 0.50
Probability of not getting a project or bid being unsuccessful, P(US) = 1 - 0.50 = 0.50
Also, Past experience indicates that for 75% of the successful bids and 40% of the unsuccessful bids the agency requested additional information which means;
Let event R = agency requested additional information
So, Probability that the agency requested additional information given the bid was successful, P(R/S) = 0.75
Probability that the agency requested additional information given the bid was unsuccessful, P(R/US) = 0.40
(a) Prior probability of the bid being successful = Probability of getting a project or bid being successful =
= 0.50
(b) The conditional probability of a request for additional information given that the bid will ultimately be successful = P(R/S) = 0.75
(c) The posterior probability that the bid will be successful given a request for additional information is given by P(S/R) ;
Using Bayes' Theorem for this we get;
P(S/R) =
=
= 0.6522 .
Answer:
Worked 5 hours: $550
Worked 7 hours: $2,750
Worked 12 hours: $6,600
Step-by-step explanation:
5+7+12=24
13200/24 = 550
(5)*(550) = 2,750
(7)*(550) = 3,850
(12)*(550) = 6,600
<span>An equation for the number of donuts y that are left at the end of the day when x donuts are being used during the day is y=24-x. You would subtract x, the number of donuts being used from 24, the total amount of donuts. To get your y.</span>