The following probability table is a breakdown of managers in four set

Douglas Kraatz

Douglas Kraatz

Answered question

2021-11-19

The following probability table is a breakdown of managers in four setors of economy:
BankingInsuranceReal EstateManufacturingMale0.120.140.130.21Female0.080.060.170.09
a) What is the probability that the selected manager is female?
b) What is the probability that the selected manager is female or in insurane business?
c) What is the probability that the selected manager is neither female nor in insurance business?

Answer & Explanation

Ida Perry

Ida Perry

Beginner2021-11-20Added 20 answers

Step 1
a) The probability that the selected manager is a female
Adding all the probability value corresponds to the row of the female.
P=0.08+0.06+0.17+0.09
p=0.4
Thus, The probability that the selected manager is a female is 0.4.
Step 2 b) The probability that the selected manager is a female is A=0.4.
The probability that the selected manager is an insurance business B=0.14+.06=0.2
The probability that the selected manager is a female and an insurance business (the value corresponds to the female row and the insurance column) AB=0.08
The probability that the selected manager is a female or an insurance business is calculated as
P(AB)=P(A)=P(B)P(AB)
=0.4+0.20.08
=0.52
The probability that the selected manager is a female or an insurance business is 0.52.
Step 3
c) The probability that the selected manager is neither female nor an insurance business is calculated as
P(AB)=1P(AB)
=10.52 (using part b)
=0.48
The probability that the selected manager is neither female nor an insurance business is 0.48.

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