Question

Question 6 5 pts According to a recent report, 30% of new businesses in 2013 were started by women and 70% of new businesses in 2013 were started by men. In 2013, 20% of new businesses started by women had revenues of $50,000 and above, whereas 29% of new businesses started by men had revenues of $50,000 and above. Complete parts (a) and (b) below. a. If a new business started in 2013 is selected at random and the new business had revenues of $50,000 and above, what is the probability that the new business was started by a woman? (Round to three decimal places as needed.) b. If a new business started in 2013 is selected at random, what is the probability that the new business had revenues of $50,000 and above? (Round to three decimal places as needed.) Upload Choose a file

Answer 1

Sol p(women starts business) = P(W) = 0.30 p(Men start business) = P(M) = 0.70 let R be the events had revenue of $50000 and above P(RIW) = 0.20 P(RIM) = 0.29 (a) find P(w/R) P (W) * PCRIW) P(W)*P(RIW) + P(M)*P(RIM) 0-30 *0.20 0.30*0.20 + 0.70*0.29 - 0.228 (6) P( had revenues $50000 and above) P(R) Plus) * PIRIW) + P(M)* PRIM) 0.30 * 0-20 + 0-70* 0:29 0.06 + 0.203 = 0.263 Ans Scanned with CamScanner CS