Contractor X is developing his bidding strategy against Contractor Y. The ratio of Y's bid price to X's cost for the 30 previous bids in which Contractor X has competed against Contractor Y is given in the Table Ration of Y’s bid Price of X’s cost Number of bids 1.02 6 1.04 12 1.06 3 1.10 6 1.12 3 Based on the bidding behaviour of the Contractor Y, the probability of winning against Contractor Y at a mark up of 8% for the next project is

Correct Answer is : more than 0% but less than 50%

more than 50% but less than 100%

GATE Civil Engineering (CE) 2021 Shift 1 Solved Paper

Question : 40 of 65

Marks: +1, -0

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

Ration of Y’s bid Price of X’s cost	Number of bids
1.02	6
1.04	12
1.06	3
1.10	6
1.12	3

Based on the bidding behaviour of the Contractor Y, the probability of winning against Contractor Y at a mark up of 8% for the next project is

100%
0%
more than 50% but less than 100%
more than 0% but less than 50%

Validate

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