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Suppose that the manager of a company has estimated the probability of a super-event sometime during the next five years that will disrupt all suppliers
Suppose that the manager of a company has estimated the probability of a super-event sometime during the next five years that will disrupt all suppliers as 2.5%. In addition, the firm currently uses two suppliers for its main component, and the manager estimates the probability of a unique-event that would disrupt one of them sometime during the next five years to be 7.75%. What is the probability that both suppliers will be disrupted at the same time at some point during the next five years? {round to four decimal places, e.g., 0.0012)
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