Question

Question 2 Probability Questions: Each question is worth 2 marks: Total Business makes a profitBusiness makes a lossInternational Manager.15.30Local Manager.10.45A. P (Local Manager) = B. P (Business makes a loss) = C. P (International Manager OR Business makes a profit) = D. P (Local Manager AND International Manager) = E. P (Business makes a loss | Manager is International) Probability:P(B)B)P(AB)|P(A)()()(ypxpyxp)()()(ypxpyxp)|()()|()()(yxpypxypxpyxp)()()()(yxpypxpyxp

Answer 1

The joint distribution of probabilities are,

	Profit	Loss	Total
International Manager	0.15	0.3	0.45
Local Manager	0.1	0.45	0.55
Total	0.25	0.75	1

From the given distribution of probabilities,

A)

B)

C)

Using the law of sum of probabilities

D)

Since hiring a international manager and hiring a local manager are independent events

Using the law of independence of probabilities,

E)

Using the law of conditional probability,