Contracts Your company bids for two contracts. You believe the probability you get contract #1 is 0.8. If you get contract #1, the probability you also get contract #2 will be 0.2, and if you do not...

Contracts Your company bids for two contracts. You believe the probability you get contract #1 is 0.8. If you get contract #1, the probability you also get contract #2 will be 0.2, and if you do not get #1, the probability you get #2 will be 0.3.

 a) Are the two contracts independent? Explain.

 b) Find the probability you get both contracts.

 c) Find the probability you get no contract.

d) Let X be the number of contracts you get. Find the probability model for X.

 e) Find the expected value and standard deviation.