22. Contracts. Your company bids for two contracts.
Chapter 16, Problem 22(choose chapter or problem)
22. Contracts. Your company bids for two contracts. Youbelieve the probability you get contract #1 is 0.8. If youget contract #1, the probability you also get contract #2will be 0.2, and if you do not get #1, the probability youget #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 theprobability model for X.e) Find the expected value and standard deviation.
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