QMB 3600 Lecture 1: POW_PCSolution

• School: FAU
• Department: Quantitative Methods in Bus
• Course: QMB 3600
• Professor: Schindlbeck Mary

Document Summary

In the evaluation of a sales training program, a firm discovered that 50 of the sales people received a bonus last year. Twenty of those 50 individuals receiving a bonus had attended a special sales training program. Assume that 40% of the sales people attended the training program. B=bonus st=attended sales training: determine the probability of a sales person earning a bonus. B= 50/200=. 25: determine the probability of having attended the sales training program if the sales person received a bonus. St|b 20/50 = . 40: determine the probability of receiving a bonus and attending the sales training program. Bonus and sales training are independent so there is no advantage to attending the sales training program. The unconditional b is equal to the conditional b b=. 25 is equal to b|st = . 25.