Find the probability of getting the deal

Assignment Help Basic Statistics
Reference no: EM13134460

An import-export firm has a 0.45 chance of concluding a deal to export agricultural equipment to a developing nation if a major competitor does not bid for the contract, and a 0.25 probability of concluding the deal if the competitor does bid it. It is estimated that the competitor will submit a bid for the contract with probability 0.40. What is the probability of getting the deal?

Reference no: EM13134460

Outlining the survey data-understanding variables and result

Locate the results of a recent survey in a newspaper, magazine, or Internet article. Outline the survey data so that your peers can understand the variables and results, and

Select the right sample size for a simple random sample

A random variable has a standard deviation of 16, and an unknown mean. Find the lowest size of a simple random sample so that the sample mean estimates the population mean w

Find the multinomial probability

Explain how you can determine n3 from knowing n1 and n2. Thus, the multinomial distribution of (n1, n2, n3) is actually two-dimensional.

Find probability that equipment will undergo maintenance

What is the probability that the equipment will undergo maintenance if it is performing satisfactorily? what is the probability that the equipment will not undergo maintenance

Identify odds ratio and the significance of the odds ratio

Identify the Odds Ratio and the significance of the Odds Ratio for each of the covariates. How has the relationship between Chole_Cat and Hypertension changed with the addit

What is the probability that the battery will fail

Tests on a certain battery have determined that the mean (average) time until failure is 40 hours. Assume that the time T until failure of the battery is exponentially distr

Expected number that will be vaccinated

Federal health officials estimate that 67% of all those over age 65 receive the flu vaccine. Suppose 8 people over 65 will be randomly selected. Which of the following is th

A national survey found that of australians consume milk

A national survey found that 17% Of Australians consume milk with their breakfast. However, in Victoria, a large milk producer believes that more than 17% of Victorians consum

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd