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Contractor X is developing his bidding strategy against contractor Y. The ratio of Y 's bid price to X 'scost for the 30 previous bids in which Contractor X has competed against Contractor Y is given in the table 

Based on the bidding behavior of  the Contractor Y, the probability of winning against. Contractor Y at a markup of 8% for the next project is
  • a)
    0%
  • b)
    100 % 
  • c)
    More than 0% but less then 50%
  • d)
    More than 50% but less than 100% 
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Contractor X is developing his bidding strategy against contractor Y. ...

At mark up of 8%
Bid price of contractor X = 1.08
Contractor X will with if quoted bid price of contractor Y is greater than X bid price,
For type 4 and type 5, Y bid is higher. 
So, Probability of win of contractor X is 
Option 3 more than 0% but less than 50%. 
Hence, the correct option is (C). 
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Most Upvoted Answer
Contractor X is developing his bidding strategy against contractor Y. ...

At mark up of 8%
Bid price of contractor X = 1.08
Contractor X will with if quoted bid price of contractor Y is greater than X bid price,
For type 4 and type 5, Y bid is higher. 
So, Probability of win of contractor X is 
Option 3 more than 0% but less than 50%. 
Hence, the correct option is (C). 
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Contractor X is developing his bidding strategy against contractor Y. The ratio of Y s bid price to X scost for the 30 previous bids in which Contractor X has competed against Contractor Y is given in the tableBased on the bidding behavior of the Contractor Y, the probability of winning against. Contractor Y at a markup of 8% for the next project isa)0%b)100 %c)More than 0% but less then 50%d)More than 50% but less than 100%Correct answer is option 'C'. Can you explain this answer?
Question Description
Contractor X is developing his bidding strategy against contractor Y. The ratio of Y s bid price to X scost for the 30 previous bids in which Contractor X has competed against Contractor Y is given in the tableBased on the bidding behavior of the Contractor Y, the probability of winning against. Contractor Y at a markup of 8% for the next project isa)0%b)100 %c)More than 0% but less then 50%d)More than 50% but less than 100%Correct answer is option 'C'. Can you explain this answer? for Civil Engineering (CE) 2024 is part of Civil Engineering (CE) preparation. The Question and answers have been prepared according to the Civil Engineering (CE) exam syllabus. Information about Contractor X is developing his bidding strategy against contractor Y. The ratio of Y s bid price to X scost for the 30 previous bids in which Contractor X has competed against Contractor Y is given in the tableBased on the bidding behavior of the Contractor Y, the probability of winning against. Contractor Y at a markup of 8% for the next project isa)0%b)100 %c)More than 0% but less then 50%d)More than 50% but less than 100%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Civil Engineering (CE) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Contractor X is developing his bidding strategy against contractor Y. The ratio of Y s bid price to X scost for the 30 previous bids in which Contractor X has competed against Contractor Y is given in the tableBased on the bidding behavior of the Contractor Y, the probability of winning against. Contractor Y at a markup of 8% for the next project isa)0%b)100 %c)More than 0% but less then 50%d)More than 50% but less than 100%Correct answer is option 'C'. Can you explain this answer?.
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