Modified Problem 434 a What are the prior probabilities...

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NAME: ANSWER KEY __________________________________________________________________________________ OPIM 550 EP: MANAGERIAL STATISTICS Fall 2018 VRR Jose HOMEWORK 3 EP DUE BEFORE THE START OF CLASS 6. SUBMIT ON CANVAS BY 6:30 PM. Homework Problems: 1. Modified Problem 4.34. (a) What are the prior probabilities that the company is a large company or a small company? (b) What are the revised probabilities that the company is large or small? (c) Based on your analysis, what is the overall percentage of companies that offer training? (a) Prior Prob P(Large Company) 0.30 P(Small Company) 0.70 (b) Revised Prob P(Large Company|Provides Training) 0.6613 P(Small Company|Provides Training) 0.3387 (c) Percentage of Companies Offering Training 0.3720 TYPE B Collaboration Allowed. (Individual Assignment with Allowed Discussion) See Syllabus and Community Standards Document for details. General Instructions: Note that for some of the homework problems, questions have been changed from those in the text so please read this document carefully before attempting the problems. For problems that require a computer, please cut and paste your output in the space provided. Please make sure that the images are not linked to a spreadsheet so that they appear properly when opened without the spreadsheet. Do not upload Excel or Minitab files. Just the answers. Coverage: Chapter 4 (60 points)
OPIM 550 EP: MANAGERIAL STATISTICS, FALL 2018 MCDONOUGH SCHOOL OF BUSINESS, GEORGETOWN UNIVERSITY

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