Quiz_2_KEY

Quiz_2_KEY - BUAD 310: Quiz 2 KEY Use the following to...

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BUAD 310: Quiz 2 KEY Use the following to answer questions 1 and 2: A survey taken at several large corporations involved 1000 randomly selected management personnel. For each person surveyed, it was determined whether or not they had obtained an MBA degree, and whether they were working in an area that was their primary choice upon graduating from college. The results are summarized in the table below: Area of primary choice Yes No Total Yes 100 250 350 MBA Degree No 125 525 650 Total 225 775 1000 __B__1. If a person in this survey has an MBA, what is the probability that the person is working in an area that was their primary choice? (a) .100 (b) .286 (c) .444 (d) .350 (e) .575 Let C=the event that the person is working in an area that was their primary choice P[C|MBA]= ±²³´µ¶·¸ ±²µ¶·¸ ¹ º»» º»»» ¼½» º»»» .286 __A__2. What percentage of those surveyed do not have an MBA and are working in an area that was their primary choice? (a) .125 (b) .146 (c) .875 (d) .750 (e) .192 P[ µ¶· ̅̅̅̅ ̅ ´ ³¸ ¹ ¾¿À ¾ÁÁÁ = .125 Use the following to answer questions 3, 4 and 5: The personnel manager of a large corporation gives an aptitude test to all newly-hired employees in an attempt to determine their potential for a management position. Based on past results, the personnel manager knows that 70% of the new employees pass (P) the test and the remaining 30% of the new employees fail (F) the test. Among the new employees who pass the test, 25% will end up in a management position (M) within one year, while the other 75% will never reach a management position. Among the new employees who fail the test, 10% will end up in a management position within one year, and the remaining 90% will never reach a management position. __E__3. Among all newly-hired employees who take the aptitude test, what percentage will fail the test and reach a management position within one year? (a) 40% (b) 65% (c) 10% (d) 31% (e) 3% P[F ´ µ¸ ¹ ( ¼)( º) ¹ »¼ or ÃÄ __C__4. If an employee who has been at the company for more than one year is selected at random and the employee is not in a management position, what is the probability that the employee passed the aptitude test? (a) .525 (b) .440 (c) .660 (d) .943 (e) .787
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Quiz_2_KEY - BUAD 310: Quiz 2 KEY Use the following to...

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