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An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 39%...
An aerospace company has submitted bids on two separate federal government defense contracts. The company president believes that there is a 39% probability of winning the first contract. If they win the first contract, the probability of winning the second is 75%. However, if they lose the first contract, the president thinks that the probability of winning the second contract decreases to 48%.A. What is the probability that they win both contracts?B. What is the probability that they lose both contracts?C. What is the probability that they win only one contract?
