Scribd
Upload
276 views

Bayes Theorem

A Dubai-based media company wants to bid on a TV advertising contract and needs to determine the probability it will win the contract based on whether its main competitor in Abu Dhabi bids. If the Abu Dhabi competitor does not bid, the Dubai company has a 50% chance of winning, but if the Abu Dhabi company bids, the Dubai company only has a 25% chance of winning.

Uploaded by

sidhanti1993
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
276 views

Bayes Theorem

A Dubai-based media company wants to bid on a TV advertising contract and needs to determine the probability it will win the contract based on whether its main competitor in Abu Dhabi bids. If the Abu Dhabi competitor does not bid, the Dubai company has a 50% chance of winning, but if the Abu Dhabi company bids, the Dubai company only has a 25% chance of winning.

Uploaded by

sidhanti1993
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 2

A Dubai based company is trying to decide whether to bid for a major TV advertising contract.

In the past, the companys main competitor, based in Abu Dhabi, has submitted bids 70 % of the time. In the Abu Dhabi competitor does not bid on the job, the probability that Dubai Media Company will get the job is 0.50. If the Abu Dhabi competitor bids on the job bids on the job, the probability the Dubai based company will get the job is 0.25. If the Dubai based company gets the job. What is the prob. That Abu Dhabi company did not bid. What is the probability that Dubai based company will get the job.

Bayes Theorem Problem

You might also like