A, B, and C are bidding for a contract. It is believed that A has exactly half the chance that B has, B in turn , is 4/5th as likely as C to win the contract. What is the probability for each to win the contract?
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5
Answer:
Let probability of C winning be xx
Therefore probability of B winning is 4x54x5, probability of A winning is 4x104x10
Sum of the probabilities should be equal to one
4x10+4x5+x=14x10+4x5+x=1
x=511x=511
Therefore,
A has a probability of 211211 for winning the contract
B has a probability of 411411 for winning the contract
C has a probability of 511511 for winning the contract
Answered by
1
Let probability of C winning be x
Therefore probability of B winning is 4x5 , probability of A winning is 4x10
Sum of the probabilities should be equal to one
4x10+4x5+x=1
x=511
Therefore,
A has a probability of 211 for winning the contract
B has a probability of 411 for winning the contract
C has a probability of 511 for winning the contract
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