Suppose 70% of all companies are classified as small companies and the rest as large companies. Suppose further, 82% of large companies provide training to employees, but only 18% of small companies provide training. A company is randomly selected without knowing if it is a large or small company; however, it is determined that the company provides training to employee
Answers
Given : 70% of all companies are classified as small companies and the rest as large companies.
82% of large companies provide training to employees,
but only 18% of small companies provide training.
A company is randomly selected without knowing if it is a large or small company; however, it is determined that the company provides training to employee
To Find : Probability that company is large or small
Solution:
Small companies = 70 % = 0.7
Large companies = 1 - 0.7 = 0.3
82% of large companies provide training to employees,
=> Large Companies who provided training = (82/100) 0.3
= 0.246
18% of small companies provide training.
=> Small Companies who provided training = (18/100) 0.7
= 0.126
Total Companies who provided training = 0.246 + 0.126
= 0.372
Probability that company is large = 0.246/0.372 = 0.6613
Probability that company is Small = 0.126/0.372 = 0.3387
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