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You work for a consulting firm, and have submitted a bid for a large consulting contract. The firm's management thinks it has a 50-50 chance of landing the project.

In a few weeks, the agency to which the bid was submitted sent in a request for additional information. The firm's past experience indicates that the agency asked for additional information for 85.6% of successful bids and 17.1% of unsuccessful bids.

What is the probability that this particular bid will be successful, given that the request for additional information happened? Enter answer in percents, accurate to two decimal places.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92840935

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