Sep 28, 2017 term paper 2

SUPPOSE THAT YOU BELIEVE THAT CONTRACTOR 1 IS TWICE AS LIKELY TO WIN AS CONTRACTOR 3 AND THAT…

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Suppose that you believe that
contractor 1 is twice as likely to win as contractor 3
and that contractor 2 is three times as likely to win
as contactor 3. What are the probabilities of winning
for each contractor?


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