Math Problem Statement

A computer consulting firm presently has bids out on three projects. Let Ai = {awarded project i}, for i = 1, 2, 3, and suppose that P(A1) = 0.22, P(A2) = 0.26, P(A3) = 0.29, P(A1 ∩ A2) = 0.11, P(A1 ∩ A3) = 0.08, P(A2 ∩ A3) = 0.05, P(A1 ∩ A2 ∩ A3) = 0.01. Use the probabilities given above to compute the following probabilities, and explain in words the meaning of each one. (Round your answers to four decimal places.) (a) P(A2 | A1) = .5

Correct: Your answer is correct.

Explain this probability in words. If the firm is awarded project 2, this is the chance they will also be awarded project 1. This is the probability that the firm is awarded both project 1 and project 2.
This is the probability that the firm is awarded either project 1 or project 2. If the firm is awarded project 1, this is the chance they will also be awarded project 2. Correct: Your answer is correct.

(b) P(A2 ∩ A3 | A1) = .0455

Correct: Your answer is correct.

Explain this probability in words. This is the probability that the firm is awarded at least one of the projects. If the firm is awarded projects 2 and 3, this is the chance they will also be awarded project 1.
If the firm is awarded project 1, this is the chance they will also be awarded projects 2 and 3. This is the probability that the firm is awarded projects 1, 2, and 3. Correct: Your answer is correct.

(c) P(A2 ∪ A3 | A1) =

Solution

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Probability Theory
Conditional Probability
Intersection and Union of Events

Formulas

P(A | B) = P(A ∩ B) / P(B)
P(A ∪ B) = P(A) + P(B) - P(A ∩ B)

Theorems

Law of Total Probability
Bayes' Theorem

Suitable Grade Level

Grades 10-12