Explanation Given: A company has rated that 75% of the employees are satisfactory and 25% as unsatisfactory. Also the records have indicated that 80% of the satisfactory workers had previous work experience, and 40% of the unsatisfactory workers had previous work experience. Formula used: Conditional probability: Let A and B be two events then the conditional probability is given by, P ( A | B ) = P ( A ∩ B ) P ( B ) or P ( B | A ) = P ( A ∩ B ) P ( A ) The product rule based on conditional probability is, P ( A ∩ B ) = P ( A | B ) P ( B ) or P ( A ∩ B ) = P ( B | A ) P ( A ) Theorem used: Bayes’ Formula: Let U 1 , U 2 , ... , U n be n mutually exclusive events whose union is the sample space S . Let E be an arbitrary event in S such that P ( E ) ≠ 0 . Then, P ( U 1 | E ) = P ( U 1 ∩ E ) P ( E ) = P ( U 1 ∩ E ) P ( U 1 ∩ E ) + P ( U 2 ∩ E ) + ... + P ( U n ∩ E ) = P ( E | U 1 ) P ( U 1 ) P ( E | U 1 ) P ( U 1 ) + P ( E | U 2 ) P ( U 2 ) + ... + P ( E | U n ) P ( U n ) Similar results hold for U 2 , U 3 , ... , U n . Calculation: Define the events U as unsatisfactory employee, S as satisfactory employee, P as the employee has previous work experience and N as the employee has no previous work experience. The probability of event U is, P ( U ) = 0.25 , and the probability of S is, P ( S ) = 0.75 . The probability for event ( P | U ) is, P ( P | U ) = 0

College Mathematics for Business, Economics, Life Sciences, and Social Sciences (14th Edition)

14th Edition

ISBN: 9780134674148

Author: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen, Christopher J. Stocker

Publisher: PEARSON

See similar textbooks

Concept explainers

Addition Rule of Probability

It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.

Expected Value

When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known …

Probability Distributions

Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosi…

Basic Probability

The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the prob…

Videos

Question

Chapter 8.4, Problem 54E

To determine

The probability that the person will be a satisfactory employee; if a person with previous work experience is hired and if a person with no previous work experience is hired.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 8.4, Problem 53E

Chapter 8.4, Problem 55E

Students have asked these similar questions

Solve y"+6y+10y= 0, y(0) = 4, y'(0) = 16 y(t) =

Solve y"-6y+9y= 0, y(0) = -5, y(0) = -10 y(t) =

Question 2 The data below provides the battery life of thirty eight (38) motorcycle batteries. 100 83 83 105 110 81 114 99 101 105 78 115 74 96 106 89 94 81 106 91 93 86 79 103 94 108 113 100 117 120 77 93 93 85 76 89 78 88 680 a. Test the hypothesis that mean battery life is greater than 90. Use the 1% level of significance. b. Determine if the mean battery life is different from 80. Use the 10% level of significance. Show all steps for the hypothesis test c. Would your conlcusion in part (b) change at the 5% level of significance? | d. Confirm test results in part (b) using JASP. Note: All JASP input files and output tables should be provided

Chapter 8 Solutions

College Mathematics for Business, Economics, Life Sciences, and Social Sciences (14th Edition)

Ch. 8.1 - Repeat Example 1 for The outcome is a number...Ch. 8.1 - Prob. 2MP Ch. 8.1 - Prob. 3MP Ch. 8.1 - Suppose in Example 4 that after flipping the...Ch. 8.1 - Prob. 5MP Ch. 8.1 - Prob. 6MP Ch. 8.1 - Prob. 7MP Ch. 8.1 - Prob. 8MP Ch. 8.1 - Prob. 1ED Ch. 8.1 - Prob. 1E

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.