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Exclusive and independent events

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Question

(a) Superior Construction Pte Ltd is a successful company dealing with many major projects in Japan. Recently, it has submitted its biddings for two major Government projects. Project A worth about $120 million and the company believes it has 40% chance of securing the project.

Project B worth $1.8 billion and there is 30% chance the company can win the project. Both projects are independent of each other. What is the probability that the company:

i. will secure Project A or B but not both

ii. will not secure Project A or will not secure Project B

(b) Do you agree that "if two events are mutually exclusive then these two events will be independent"? Why?

(c) Provide one business-related example each, with explanation, for mutually exclusive and independent events.

Reference no: EM131157447

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