Question

In: Statistics and Probability

Information on three age groups and three salary bands in a mining company is being analyzed....

Information on three age groups and three salary bands in a mining company is being analyzed. First, it is summarized into a contingency table before this analysis. The table, showing the age groups, the salary bands and the number of employees per each combination of salary band and age group is shown below.

Age Group
Salary Band Less than 40 year 40 to 60 Years More than 60 Years
Less than P20,000 35 40 10
P20,000 - P40,000 21 30 15
More than P40,000 16 25 8

a. Produce a probability contingency table for the data including the totals.

b. If an employee is randomly chosen, what is the probability that he/she is in the 40 to 60 years age group earning between P20, 000 and P40, 000?

c. If an employee is randomly chosen, what is the probability that he/she is less than 40 years of age or earning more than P40, 000?

d. Given that the employee earns less than P20, 000, what is the probability that he/she is aged above 60 years (give answer to 4 decimal places)?

e. If an employee is randomly chosen, what is the probability that he/she is aged 60 years and less?

Solutions

Expert Solution

orchestra answered 2 years ago
Next > < Previous

Related Solutions

QUESTION 2 [20 MARKS] Information on three age groups and three salary bands in a mining...
QUESTION 2 [20 MARKS] Information on three age groups and three salary bands in a mining company is being analyzed. First, it is summarized into a contingency table before this analysis. The table, showing the age groups, the salary bands and the number of employees per each combination of salary band and age group is shown below. Age Group Salary Band Less than 40 year 40 to 60 years More than 60 years Less than P20, 000 35 40 10...
1). If a system is being carefully analyzed and it is found that three equations are...
1). If a system is being carefully analyzed and it is found that three equations are obtained but there are 4 unknowns: a: then numerical values should be immediately inserted into the equations to check for mistakes b: the analysis should probably continue - for some systems a cancellation will eliminate one of the unknowns, and particularly if one of the unknowns is the mass of an object c: the analysis should be ended and the expressions obtained handed in...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity   Current assets   Current liabilities     Cash $ 45,262 $ 57,602      Accounts payable $ 190,922 $ 198,611     Accounts receivable 61,281 81,639      Notes payable 86,020 137,588     Inventory 126,088 192,061             Total $ 276,942 $ 336,199       Total $ 232,631 $ 331,302   Long-term debt $ 239,000 $ 175,750   Owners’ equity      Common...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity   Current assets   Current liabilities     Cash $ 63,014 $ 79,447      Accounts payable $ 187,422 $ 195,111     Accounts receivable 64,781 85,139      Notes payable 82,520 134,088     Inventory 117,852 182,862             Total $ 269,942 $ 329,199       Total $ 245,647 $ 347,448   Long-term debt $ 232,000 $ 168,750   Owners’ equity      Common...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 55,526 $ 70,205 Accounts payable $ 188,922 $ 196,611 Accounts receivable 63,281 83,639 Notes payable 84,020 135,588 Inventory 121,382 186,805 Total $ 272,942 $ 332,199 Total $ 240,189 $ 340,649 Long-term debt $ 235,000 $ 171,750 Owners’ equity Common stock...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity   Current assets   Current liabilities     Cash $ 34,678 $ 44,680      Accounts payable $ 192,922 $ 200,611     Accounts receivable 59,281 79,639      Notes payable 88,020 139,588     Inventory 130,795 197,317             Total $ 280,942 $ 340,199       Total $ 224,754 $ 321,636   Long-term debt $ 243,000 $ 179,750   Owners’ equity      Common...
Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 52,990 $ 67,084 Accounts payable $ 189,422 $ 197,111 Accounts receivable 62,781 83,139 Notes payable 84,520 136,088 Inventory 122,559 188,119 Total $ 273,942 $ 333,199 Total $ 238,330 $ 338,342 Long-term debt $ 236,000 $ 172,750 Owners’ equity Common stock...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity   Current assets   Current liabilities     Cash $ 72,718 $ 91,489      Accounts payable $ 185,422 $ 193,111     Accounts receivable 66,781 87,139      Notes payable 80,520 132,088     Inventory 113,146 177,607             Total $ 265,942 $ 325,199       Total $ 252,645 $ 356,235   Long-term debt $ 228,000 $ 164,750   Owners’ equity      Common...
Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 72,718 $ 91,489 Accounts payable $ 185,422 $ 193,111 Accounts receivable 66,781 87,139 Notes payable 80,520 132,088 Inventory 113,146 177,607 Total $ 265,942 $ 325,199 Total $ 252,645 $ 356,235 Long-term debt $ 228,000 $ 164,750 Owners’ equity Common stock...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 21,182 $ 24,141 Accounts payable $ 180,108 $ 190,767 Accounts receivable 51,036 59,935 Notes payable 83,179 98,175 Inventory 120,589 142,718 Total $ 263,287 $ 288,942 Total $ 192,807 $ 226,794 Long-term debt $ 305,000 $ 340,000 Owners’ equity Common stock...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT