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The probability of the contractor failing to meet the requirements of the potential contract and rdquo is considered to be what type of risk?
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What are the types of probability?
They are generally agreed to be theoretical and experimental probabilities. Probability is probability. The concept may be applied to any causal event which has more than one potential outcome.
Odds of rolling doubles with three dice?
There are 36 possible combinations of unique dice rolls (where order doesn't matter, so sorted/deduped). 6 of these are potentially doubles. The total odds are 1/6 (~16.7%). This is because the probability that any of the two die matched any of the other two dice is really just the probability that a die is the same as another die, which is 1/6. Think about it this way, if you rolled two dice the probability that the first one is the same as the second one is 1/6. If you rolled a one, and then rolled a second die and it didn't come up as the first one, but then you rolled a third one you'll find that the probability that doubles occurred is the probability that the first one matches the third one, OR the second one matches the third one IIF the second one did not match the first one, but because they're independent events it's still just what's the probability that doubles occurred between the comparison rather than the set. This does not take into account triplets being considered doubles. If the potential for triplets is considered (the probability that any two die will have the same value), this becomes a very simple problem because it deals with the likelihood that something can't occur in any form rather than the likelihood that a specific subset will occur. It's simply the probability (after sorting) that the first one is like the second one, or the second one is like the third one. When you think about that, that's really just the probability that all numbers will be different. This means we only have to care about two. The probability that the second is different is 5/6, while the probability that the third is different than both of the first two is 4/6. That makes the probability that no two are alike 5/6 by 4/6. This means that the probability that AT LEAST two are alike is 1 - (5/6 * 4/6), which is 44.444..%. It's an extremely simplified version of the birthday problem.
What is meant by area of interest in HR?
That is the job, career or field in which a potential or new employee wants to work or for which he/she is being considered or has been hired.
What is the most specific residency requirement for the House?
To serve in the House, there are two residency requirements. Potential candidates must be U.S. citizens for seven years; they must also be residents of the state they want to represent. The latter is more specific.
What does it mean to bond a company?
This is one type of bonding of a contracting company, but it will give you some idea as to why companies have a bond. hat should I consider when choosing a surety bonding? What should I consider when choosing a surety bonding company? Company? Posted On: Wednesday January 28th, 2004 at 12:00am EST SUMMARY A surety bond is a guarantee from a surety bonding agency that a contractor will complete an agreement; you will not be liable if the contractor does not complete the agreement. When choosing a surety bonding company, you need to take into consideration its reputation, experience and bonding process. What should I consider when choosing a surety bonding company? A surety bond is a three-party agreement between a surety company, an owner (obligee) and a principle (contractor). In this type of bond, the surety company insures the obligee that the principle will fulfill a contract. When a surety bond is used in the construction industry, it is called a contract surety bond. Business owners acquire surety bonds because they want to be sure that a contract is going to manage his enterprise well, deal fairly, perform obligations in a timely manner and keep promises. Business owners also pursue surety bonds because they provide protection in case the contractor defaults on the contract. Surety bonding is considered a part of the insurance industry, but it shares some characteristics with the bank credit industry. However, the surety company's primary duty is not to lend the contractor money. Instead, the surety company uses its financial resources to stand behind, or back, the contractor's commitment and ability to complete a contract. The surety bond is advantageous for the business owner because it assures that the contracted work will be completed, and protection will be provided if it is not. Surety bond companies charge a premium for prequalifying or underwriting the contractor. Unlike insurance companies, surety companies do not charge deductibles based on the probability of loss, because surety companies do not expect a loss to occur. Surety bonding companies do extensive research on the contractors that they bond. They request a list of good references from the contractor, as well as proof that the contractor has experience fulfilling the requirements of contracts. Surety bond companies will also evaluate a contractor's ability to obtain equipment necessary to carry out work, the contractor's financial ability to hire necessary employees, the contractor's credit history and the contractor's current bank relationships and lines of credit. Having this information will allows you, as a business owner, to make a good decision in hiring a contractor. A surety bond will also help convince architects, lenders and other principles on the project that the chosen contractor will complete the duties and contracts as assigned. Because the surety bonding company plays such an important role in assuring that your contractor will complete his contract, it is important to carefully consider what bonding company you will choose. If you have never used a surety bonding company before, it will probably be a good idea to find other small business owners in your area who have used surety bonding companies and ask them who they recommend and why. Make a list of these names and do your own 'research'-find out what contractors they bond, and track down other businesspersons who have used their services. After compiling a list of potential surety bonding companies, you will want to check with the U.S. Treasury Department or similar agency in your state to assure that the agencies are licensed for bonding. Some bonding agencies are contained within larger insurance agencies, so you will also want to find out if they have an agent to handle surety bonds specifically or if they use any agent available to draft surety bonds. It is also important to ask your surety bonding agency what screening they perform on contractors. Do they conduct background checks? Do they gather business reference? What is the upper monetary limit of their bonding services? How long have they been in the bonding business? What are their policies if contractors default on an agreement? Are they registered with the state Insurance authorities and/or the federal Treasury Department? The surety company is the primary risk-taker in the three-way bonding agreement, and so will want to thoroughly investigate your business plans and information about your business before bonding a contractor to do work with you. It is important to provide as much information as you can to the surety agency so they can properly underwrite the contractor and make sure you are protected from liability in case the contractor defaults on your agreement. A good surety bonding agency will charge a premium for underwriting your contractor and project, and will publish what their premium rates are. If a surety company does not publish their premiums or rates, you should contact your state's Insurance office to assure that they are licensed and comply with all state and federal regulations. Perhaps the most important thing to remember when choosing a surety bonding company is ensuring that you have open lines of communication. You need to choose a surety bonding agent you can talk to about your business concerns-and the bonding agent needs to be able to listen to you, and address your concerns to your satisfaction. Again, other businesspersons will likely be very useful to you in your bonding agency search. You may also want to ask contractors who have submitted bids to you what surety bonding agencies they have used in the past.
The probability of the contractor failing to meet the requirements of the potential contract is considered to be what type of risk?
Technical risk.
A roofing contractor should provide references for a potential client.?
A roofing contractor should provide references for a potential client.
Can an employer request a certificate of health from a potential contractor?
Yes, employer can request to the contractor to give him a health certificate so that save himself from the future consequences.
What are the types of probability?
They are generally agreed to be theoretical and experimental probabilities. Probability is probability. The concept may be applied to any causal event which has more than one potential outcome.
The following isare commercially-managed sources for locating potential suppliers?
Central Contractor Registration
What are the potential requirements of remote working system?
Server
Is gravitational force considered potential or kinetic energy?
Gravitational force is considered potential energy, E= -GmM/r.
What is the difference between risk and exposure?
An exposure consist of the potential financial effect of an event multiplied by its probability of occurrence and risk is with probability of occurrence. Thus an exposure is a risk times its financial consequences.
A vehicle can be considered a potentially lethal weapon and pedestrians can be considered?
Potential
What questions should I ask a potential fence contractor?
The things you need to ask a fence contracter varies based on the details of the job. The only question that needs to be asked on every job no matter how small is if the contractor insures his work.
What classes are needed to be a roofing contractor?
Becoming a certified roofing contractor is a good way to prove to your clients that you are experienced and knowledgeable in your field. Not only will the training and education you gain allow you to be more confident and professional in your work, but having a certification can make you more appealing to potential customers. There are no national certification programs, as each state sets its own guidelines and operates their own certification programs, but many of the requirements are similar from state to state, allowing you to start the process of becoming certified immediately.
What are the educational requirements for an entry-level position in the securities field?
Brokerage clerks are responsible for the majority of the daily operations and for processing much of the paperwork that is generated. These positions are often considered entry-level jobs with the potential for promotion
