Answer to Question #69459 in Statistics and Probability for Jewel

Question

Superior Construction Pte Ltd is a successful company dealing with many major projects in Singapore. Recently, it has submitted its biddings for two major Government projects. Project A worth about $120 million and the company believes it has 40% chance of securing the project. Project B worth $1.8 billion and has 30% chance the company will secure the project. Both projects are independent of each other. What is the probability that the company will secure Project A or B but not both?