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A consulting firm submitted a bid for a large research project. The firm's management initially felt they had a 50-50 chance of getting the project.

A consulting firm submitted a bid for a large research project. The firm's management initially felt they had a 50-50 chance of getting the project. However, the agency to which the bid was submitted subsequently requested additional information on the bid. Past experience indicates that for 70% of the successful bids and 45% of the unsuccessful bids the agency requested additional information. Compute the posterior probability that the bid will be successful given a request for additional information. (Round your answer to two decimal places.)

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