An import-export firm has a 045 chance of concluding a deal, Ask an Expert

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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 for 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?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92179618

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