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    Probability: Hiring Minority Candidates

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    A company must hire a new CFO and prepares a final list of five candidates - all are equally qualified. Two of the candidates are members of a minority of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery.

    What is the probability one of the minority candidates is hired and which concept of probability did you use to make this estimate?

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    A company must hire a new CFO and prepares a final list of five candidates - all are equally qualified. Two of the candidates are members of a minority of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery. ...

    Solution Summary

    The solution provides step by step method for the calculation of probability using classical definition of probability. Formula for the calculation and Interpretations of the results are also included.

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