Find the probability you get no contract

Reference no: EM131418014

Contracts

Your company bids for two contracts. You believe the probability you get contract #1 is 0.8. If you get contract #1, the probability you also get contract #2 will be 0.2, and if you do not get #1, the probability you get #2 will be 0.3.

a) Are the two contracts independent? Explain.

b) Find the probability you get both contracts.

c) Find the probability you get no contract.

d) Let X be the number of contracts you get. Find the probability model for X.

e) Find the expected value and standard deviation of X.

Reference no: EM131418014

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