Question

question 10
3 pts
several health insurance companies are bidding for an insurance contract. of these companies, 4 are local, 4 have state - wide operations, and 8 have national operations. only one company will be awarded the contract. if each company is equally likely to win the contract, what is the probability that the contract will be awarded to one of the companies with state - wide operations?
note: for any final answer that has up to four decimal places, enter your answer without rounding the number. for any answers with more than four decimal values, round your final answer to four decimal places.

Explanation:

Step1: Calculate total number of companies

Total number of companies \( n = 4+4 + 8=16\)

Step2: Calculate probability

Probability \( P=\frac{\text{Number of state - wide companies}}{\text{Total number of companies}}=\frac{4}{16}\)
Simplify \(\frac{4}{16}=\frac{1}{4}=0.25\)

Answer:

\(0.25\)