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Consolidated Builders has bid on two large construction projects. The company president believes that the probability of winning the first contract (event A) is 0.7, that the probability of winning the second contract (event B) is 0.6, and that the probability of winning both contracts is 0.3. a) Draw Venn diagram that illustrates the relation between A and B. b) What is the probability that Consolidated wins at least one of the contracts? c) What is the probability that Consolidated Builders wins both jobs? d) Given that Consolidated won the first contract, what is the probability that it wins the second contract? e) Are events A and B independent? Why? f) What is the probability that Consolidated wins the first contract but not the second contract?
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