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13 As manager for a construction firm, you are in charge of bidding on two large contracts. You believe the probability you get contract #1
13
As manager for a construction firm, you are in charge of bidding on two large contracts. You believe the probability you get contract #1 is 0.7. If you get contract #1, the probability you also get contract #2 will be 0.5, and if you do not get #1, the probability you get #2 will be 0.8. Complete parts (a) through (c).
Sketch the probability tree
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