The probabilities of X, Y and Z becoming managers are 4/9, 2/9 and 1/3 respectively. The probabilities that the Bonus Scheme will be introduced if X, Y and Z becomes managers are 3/10, 1/2, and 4/5 respectively. (i) What is the probability that Bonus Scheme will be introduced, and (ii) if the Bonus Scheme has been introduced, what is the probability that the manager appointed was X ?

The probabilities of X, Y and Z becoming managers are 4/9, 2/9 and 1/3 respectively. The probabilities that the Bonus Scheme will be introduced if X, Y and Z becomes managers are 3/10, 1/2, and 4/5 respectively. (i) What is the probability that Bonus Scheme will be introduced, and (ii) if the Bonus Scheme has been introduced, what is the probability that the manager appointed was X ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

The probabilities of X, Y and Z becoming
managers are 4/9, 2/9 and 1/3
respectively. The probabilities that the
Bonus Scheme will be introduced if X, Y
and Z becomes managers are 3/10, 1/2,
and 4/5 respectively.
(i) What is the probability that Bonus
Scheme will be introduced, and
(ii) if the Bonus Scheme has been
introduced, what is the probability that
the manager appointed was X ?

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