Question 3
(a) Superior Construction Pte Ltd is a successful company dealing with many major projects in Singapore. Recently, it has submitted its biddings for two major Government projects. Project A worth about $120 million and the company believes it has 40% chance of securing the project. Project B worth $1.8 billion and there is 30% chance the company can win the project. Both projects are independent of each other. What is the probability that the company: {nl} {nl} i. will secure Project A or B but not both
ii. will not secure Project A or will not secure Project B
(b) Do you agree that “if two events are mutually exclusive then these two events will be independent”?
Why?
(c) Provide one business-related example each, with explanation, for mutually exclusive and independent events.
Ps: Please kindly elaborate in details.
(Thank you in advance)
