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NW 1.88 Company credit card records. A bank officer is analyzing the transactions of a company credit card, controlled by three directors, director 1,2 and 3. Of the transactions, 25% were made by director 1, 35% by director 2, and 40% by director 3. For i = 1, 2, 3, define E; to be the event that the bank officer randomly selects a transaction by director i. The following probabilities describe the proportions of transactions in a foreign currency for directors 1, 2, and 3: P(foreign | E₁) = 0.02, P(foreign | E₂) = 0.05, and P(foreign| E3) = 0.01. a. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 1? b. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 2? c. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 3? d. Based on the probabilities, parts a-c, which director's transaction in a foreign currency is most likely being analyzed by the bank officer?

NW 1.88 Company credit card records. A bank officer is analyzing the transactions of a company credit card, controlled by three directors, director 1,2 and 3. Of the transactions, 25% were made by director 1, 35% by director 2, and 40% by director 3. For i = 1, 2, 3, define E; to be the event that the bank officer randomly selects a transaction by director i. The following probabilities describe the proportions of transactions in a foreign currency for directors 1, 2, and 3: P(foreign | E₁) = 0.02, P(foreign | E₂) = 0.05, and P(foreign| E3) = 0.01. a. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 1? b. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 2? c. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 3? d. Based on the probabilities, parts a-c, which director's transaction in a foreign currency is most likely being analyzed by the bank officer?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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NW 1.88 Company credit card records. A bank officer is analyzing the transactions of a company credit card, controlled by three directors, director 1, 2 and 3. Of the transactions, 25% were made by director 1, 35% by director 2, and 40% by director 3. For i = 1, 2, 3, define E, to be the event that the bank officer randomly selects a transaction by director i. The following probabilities describe the proportions of transactions in a foreign currency for directors 1, 2, and 3: P(foreign| E₁) = 0.02, P(foreign | E₂) = 0.05, and P(foreign| E3) = 0.01. a. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 1? b. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 2? c. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 3? d. Based on the probabilities, parts a-c, which director's transaction in a foreign currency is most likely being analyzed by the bank officer?
Transcribed Image Text:NW 1.88 Company credit card records. A bank officer is analyzing the transactions of a company credit card, controlled by three directors, director 1, 2 and 3. Of the transactions, 25% were made by director 1, 35% by director 2, and 40% by director 3. For i = 1, 2, 3, define E, to be the event that the bank officer randomly selects a transaction by director i. The following probabilities describe the proportions of transactions in a foreign currency for directors 1, 2, and 3: P(foreign| E₁) = 0.02, P(foreign | E₂) = 0.05, and P(foreign| E3) = 0.01. a. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 1? b. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 2? c. If a transaction in a foreign currency is analyzed by the bank officer, what is the probability that it was made by director 3? d. Based on the probabilities, parts a-c, which director's transaction in a foreign currency is most likely being analyzed by the bank officer?
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