Using Bayes' Theorem, how would I go about solving this?
Suppose that there are three corporations competing for four different contracts. If the contracts are awarded randomly, what is the probability that each corporation will get at least one contract?
Would I do:
$$\frac{(4!)\cdot(3)}{2}$$
My book had used a problem similar to this but I'm not sure. Thanks!
The number of ways for each corporation to get at least one contract is $$4!\cdot 3$$ and the number of ways for the contracts to be awarded randomly is $$3^4$$ Thus, the probability is $$\frac{4!\cdot 3}{3^4}$$