Consider a population of 3000 people, 1400 of whom are men. Assume that 700 of the women

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Consider a population of 3000 people, 1400 of whom are men. Assume that 700 of the women in this population earn at least $60,000 per year, and 500 of the men earn less than $60,000 per year.

a. What is the probability that a randomly selected person from this population earns less than $60,000 per year?

b. If a randomly selected person is observed to earn less than $60,000 per year, what is the probability that this person is a man?

c. If a randomly selected person is observed to earn at least $60,000 per year,what is the probability that this person is a woman?

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Practical Management Science

ISBN: 9781337406659

6th Edition

Authors: Wayne L. Winston, Christian Albright

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Question Posted: Oct 10, 2022 04:04 AM

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Consider a population of 3000 people, 1400 of whom are men. Assume that 700 of the women

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Total population 3000 no of men 1400 no of women 1600 no of ...View the full answer

Practical Management Science

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