Three persons A, B and C are competing for the post of CEO of a company. The chances of they becoming CEO are 0.2, 0.3 and 0.4 respectively. The chances of they taking employees beneficial decisions are 0.50, 0.45 and 0.6 respectively. What are the probabilities of chances of having employees' beneficial decisions after having A as new CEO, Similarly B, Similarly C
Answers
Given : Three persons A, B and C are competing for the post of CEO of a company. The chances of they becoming CEO are 0.2, 0.3 and 0.4 respectively. The chances of they taking employees beneficial decisions are 0.50, 0.45 and 0.6 respectively.
To Find : the probabilities of chances of having employees' beneficial decisions after having A as new CEO, Similarly B, Similarly C
Solution:
A becoming CEO and taking employees beneficial decisions = (0.2)(0.5)
= 0.1
B becoming CEO and taking employees beneficial decisions = (0.3)(0.45)
= 0.135
C becoming CEO and taking employees beneficial decisions = (0.4)(0.6)
= 0.24
taking employees beneficial decisions = 0.1 + 0.135 + 0.24 = 0.475
probabilities of chances of having employees' beneficial decisions after having A as new CEO = 0.1 / 0.475 = 0.211
probabilities of chances of having employees' beneficial decisions after having B as new CEO = 0.135 / 0.475 = 0.284
probabilities of chances of having employees' beneficial decisions after having C as new CEO = 0.24 / 0.475 = 0.505
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