1. Hassan Naeem has super awesome proposal to make huge profits in his business.
ID: 3040716 • Letter: 1
Question
1. Hassan Naeem has super awesome proposal to make huge profits in his business. Before he can run with his idea, he needs to bring this with his company's board. For this case let us assume the board has three accomplished members: Yassir, Anees and Sabreena. The probability that Yassir would approve the proposal would be 0.7, the probability that Anees and Sabreena would approve would be 0.5 and 0.4 respectively. Needless to say the board members approvals are independent of each other. To move forward, Hassan should get approval of Yassir (senior member) and at least one more of the remaining two. What is the probability that Hassan can get a go for his super awesome proposal? a. b. If the rules are changed such that he only needs the approval of any two board members, what is the probability that he would get funded? Based on b: if Hassan did eventually have a go to move forward, what is the probability that Sabreena backed his idea? c.Explanation / Answer
P(Yasir) = 0.7
P(Anees) = 0.5
P(Sabeena) = 0.4
(a)
P(Yasir & Anees) = P(Yasir) X P(Anees) = 0.7 X 0.5 = 0.35
P(Yasir & Sabeena) = P(Yasir) X P(Sabeena) = 0.7 X 0.4 = 0.28.
So,
Probability that Hassan can a get a go = 0.35 + 0.28 = 0.63
(b)
P(Anees & Sabeena) = P(Anees) X P(Sabeena) = 0.5 X 0.4 = 0.20
So,
P(he would get funded) = 0.63 + 0.20 = 0.83
(c)
P(Sabeena backed his idea) = P(Sabeena & Yasir) + P(Sabeena & Anees)
= 0.28 + 0.20 = 0.48
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