HWS02_C4_FARFAN.xls.xlsx - ASSIGNMENT Individual Problems...

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ASSIGNMENT: Individual: Problems 4.35* (instead of 4.65), 4.61, 4.63 Problem 4.35 SOLUTION. Using equation (4.9) on page 161 We have these events : Bussines (B) had revenues about $50,000 P(woman:W):0.35 P(man:M): 1-0.35: 0.65 P(B/W):0.20 P(B/M):0.24 Replacing in the equation. P(W/B): (0.35*0.20 )/(0.35*0.20+0.65*0.24) P(W/B): 0.3097 The probability is 30.97 % (Solution a). Part B Using equation (4.8) on page 158 Marginal probability P(B):P(W)P(B/W)+P(M)P(B/M) P(B):0.35*0.20+0.65*0.24 P(B):0.226 The probability is 22.6 % (Solution b). Problem 4.61 a: Prob(established economy)= P(EE):249/total = 249/592 b: Using the general addition rule Prob(statement B)= P(EE)+P(YES Established Make business)-P(Established and Yes) C: Prob(no agree and emerging economy)= P(no agree HR and emerging)/total D: Prob(no agree or emerging economy)= P(no agree HR )+ P(emerging)-Prob(no agree and emerging economy)
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