To find the probability that at least one of the projects is successful, we can calculate the complementary probability that both projects fail and subtract it from 1.
The probability that project A fails is 1 - 0.4 = 0.6.
The probability that project B fails is 1 - 0.6 = 0.4.
Since the success of the two projects is independent, the probability that both projects fail is 0.6 * 0.4 = 0.24.
Therefore, the probability that at least one of the projects is successful is 1 - 0.24 = 0.76, or 76%.
An oil exploration company currently has two projects. The company estimates that there is a 40% probability that project A is successful, a 60% probability that project B is successful, and that the success of the two projects is independent.
What is the probability that at least one of the projects is successful?
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1 answer