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An analyst develops the following table of joint probabilities relating to the size of firm (measured in terms of number of employees) and types of firm. Number of Industry employees Construction Manufacturing Retail Under 20 0.2307 0.0993 0.5009 20-99 0.0189 0.0347 0.0876 100 or more 0.0019 0.0147 0.0113 If one firm is selected at random, find the probability of the following events: (i) the firm employs fewer than 20 employees. (ii) the firm is in the retail industry. (iii) a firm in the construction industry employs between 20 and 99 workers. (iv) a firm in the retail industry employs less than 20 workers.

An analyst develops the following table of joint probabilities relating to the size of firm (measured in terms of number of employees) and types of firm. Number of Industry employees Construction Manufacturing Retail Under 20 0.2307 0.0993 0.5009 20-99 0.0189 0.0347 0.0876 100 or more 0.0019 0.0147 0.0113 If one firm is selected at random, find the probability of the following events: (i) the firm employs fewer than 20 employees. (ii) the firm is in the retail industry. (iii) a firm in the construction industry employs between 20 and 99 workers. (iv) a firm in the retail industry employs less than 20 workers.

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 33E: Sick leave probability that a given worker at Dyno Nutrition Will call in sick on a Monday is 004....
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An analyst develops the following table of joint probabilities relating to the size of firm (measured in terms of number of employees) and types of firm. Number of Industry employees Construction Manufacturing Retail Under 20 0.2307 0.0993 0.5009 20-99 0.0189 0.0347 0.0876 100 or more 0.0019 0.0147 0.0113 If one firm is selected at random, find the probability of the following events: (i) the firm employs fewer than 20 employees. (ii) the firm is in the retail industry. (iii) a firm in the construction industry employs between 20 and 99 workers. (iv) a firm in the retail industry employs less than 20 workers.
Transcribed Image Text:An analyst develops the following table of joint probabilities relating to the size of firm (measured in terms of number of employees) and types of firm. Number of Industry employees Construction Manufacturing Retail Under 20 0.2307 0.0993 0.5009 20-99 0.0189 0.0347 0.0876 100 or more 0.0019 0.0147 0.0113 If one firm is selected at random, find the probability of the following events: (i) the firm employs fewer than 20 employees. (ii) the firm is in the retail industry. (iii) a firm in the construction industry employs between 20 and 99 workers. (iv) a firm in the retail industry employs less than 20 workers.
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