A Corporation Has 15,000 Employees

question 50

Short Answer

A corporation has 15,000 employees. Sixty-two percent of the employees are male. Twenty-three percent of the employees earn more than $30,000 a year. Eighteen percent of the employees are male and earn more than
$30,000 a year.
a. If an employee is taken at random, what is the probability that the employee is male?
b. If an employee is taken at random, what is the probability that the employee earns more than
$30,000 a year?
c. If an employee is taken at random, what is the probability that the employee is male and earns more than $30,000 a year?
d. If an employee is taken at random, what is the probability that the employee is male or earns more than $30,000 a year?
e. The employee taken at random turns out to be male. Compute the probability that he earns more than $30,000 a year.
f. Are being male and earning more than $30,000 a year independent?

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Definitions:

Unpaid Debts

Liabilities or amounts owed that have not yet been paid or settled.

Liquidation Expenses

Costs associated with the process of dissolving a company, including paying off debts and distributing remaining assets to shareholders.

Final Settlement

The concluding process in a financial transaction where the seller transfers assets to the buyer, and the buyer pays the seller.

Profit and Loss Sharing

An arrangement, often in partnerships, where profits and losses are distributed among parties based on a pre-agreed ratio.