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Your boss is undertaking a major farm development project in 3 phases. At the end of each phase the latest phase will be reviewed with
Your boss is undertaking a major farm development project in 3 phases. At the end of each phase the latest phase will be reviewed with the result of either being approved or denied. If a phase is approved, it will go into the next phase (passing the third phase approval means that the whole system is approved and will go into implementation). If the review of any of the 3 phases results in a reject, then the whole project is cancelled. It is estimated that each of the phases have a probability of 0.2 of being rejected. i. What is the probability that the whole project is cancelled? What is the probability that the whole project is cancelled in the review of phase 3? Suppose the project was not cancelled in the review of phase 1. What is the probability that the whole project is cancelled in the review of phase 3
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