1. The Olive Construction Company is determining whether it should submit

a bid for a new shopping center. In the past, Olive's main competitor, Base

Construction Company, has submitted bids 70% of the time. If Base

Construction Company does not bid on a job, the probability that the Olive

Construction Company will get the job is .50. If Base Construction Company

does bid on a job, the probability that the Olive Construction Company will

get the job is .25.

(a)

If the Olive Construction Company gets the job, what is the probability

that the Base Construction Company did not bid?

(b)

What is the probability that the Olive Construction Company will get

the job?

Subscribe to Course Hero to unlock this document