Black, Business Statistics, 8e Assignment BUSINESS STATISTICS (mus Gradebook ORI

Question

Black, Business Statistics, 8e Assignment BUSINESS STATISTICS (mus Gradebook ORION Supplementary Problem 4.49 workers by The Corference Board, it was , by lhe arterence Bard, it was reported that 41% use flewible work arrangements. Sagpose that d tho-compe is that de ste nede or, suppose that of those companes that use nnble work arrangements, so%gvetme of fr volnteensm. I' a determine the fellowing probabilities a. The compary uses flexible work arrangements or b. The company uses flexible work arrangements and does not give time c. Given that the company does not give time off for volunteerism, d. The company does not use flexible work arrangements e. The company does not use flexible work arrangements or gives time off for volunteerism off for velunteerism the company uses flexible work arrangements. given that the company does give time oflf for the company does not give time off for volunteerism 0.528 (Round your answer to 3 decimal places.) 0.205 (Round your answer to 3 decimal places) (Round your answer to 4 decisial places.) (Round your answer to 4 deciamal places) (Round your answer to 3 decinnal places.) b. d. Click if you would like to Show Work for this question: Open Shom Weack LINK TC, TEXT I INK TO TEXT LINK TO Question Attempts: O of 3 used sYS FOR ATIA All Rights Reserved. A Division of

Explanation / Answer

Probability that company use flexible work arrangements = 0.41
Probability that company do not use flexible work arrangements = 1 - 0.41 = 0.59

a.
Probability that company use flexible work arrangements or gives time off for volunteerism
= Probability that company use flexible work arrangements + Probability that company do not use flexible work arrangements and gives time off for volunteerism
= 0.41 + 0.59 * 0.1 = 0.469

b.
Probability that company use flexible work arrangements and does not gives time off for volunteerism
= 0.41 * (1 - 0.5) = 0.205

c.
P(Company gives time off for volunteerism) = 0.41 * 0.5 + 0.59 * 0.1 = 0.264
P(Company does not gives time off for volunteerism) = 1 - 0.264 = 0.736
By Bayes theorem,
P(Company use flexible work arrangements | Company does not gives time off for volunteerism)
= P(Company does not gives time off for volunteerism | Company use flexible work arrangements) P(Company use flexible work arrangements) / P(Company does not gives time off for volunteerism)
= (1-0.5) * 0.41 / 0.736 = 0.2785

d.
By Bayes theorem,
P(Company does not use flexible work arrangements | Company does gives time off for volunteerism)
= P(Company does gives time off for volunteerism | Company does not use flexible work arrangements) P(Company does not use flexible work arrangements) / P(Company does gives time off for volunteerism)
= 0.1 * 0.59 / 0.264 = 0.2235

e.
Probability that company does not use flexible work arrangements or does not gives time off for volunteerism
= Probability that company does not use flexible work arrangements + Probability that company use flexible work arrangements and does not gives time off for volunteerism
= 0.59 + 0.41 * (1-0.5) = 0.795

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