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Probability

Consider a population of 2000 individuals, 800 of whom are woman. Assume that 300 of the woman in this population earn at least $60,000 per year, and 200 of the men earn at least $60,000 per year.

1. What is the probability that a randomly selected individual from this population earns less than $60,000 per year?

2. If a randomly selected individual is observed to earn less than $60,000 per year, what is the probability that this person is a man?

3. If a randomly selected individual is observed to earn at least $60,000 per year, what is the probability that this person is a woman?

Solution Preview

Consider a population of 2000 individuals, 800 of whom are woman. Assume that 300 of the woman in this population earn at least $60,000 per year, and 200 of the men earn at least $60,000 per year.

Let us make a table- this will make things easier to follow:

Data Given

< $ 60,000 >= $ 60,000 Total
Men 200
Women 300 800 ...

Solution Summary

Calculates probability

$2.19