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Every Current Applicant for a Position in the Marketing Department

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Every current applicant for a position in the marketing department of Company A is given a 10-question test on interpretation of findings from statistical analyses.Individuals are rated on three levels based on their scores: Excellent (9-10 correct),Average (5-8 correct),and Poor (fewer than 5 correct).Historically,the probability of an individual scoring Excellent = .38,Average = .52,and Poor = .10.Also,the company knows that 90 percent of applicants who score Excellent are offered a position,75 percent of applicants who score Average are offered a position,and 35 percent of the applicants who score Poor are offered a position.What is the probability that an individual who is offered a position has an Average score?

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Definitions:

Fully Funded Pension Rights

Retirement plan benefits that have been completely backed by financial contributions, ensuring that sufficient assets are available to meet future obligations.

Pension Expense

The total amount an employer is obligated to contribute to an employee's defined benefit pension plan in a given period.

Partially Funded Pension Rights

Pension schemes where not all of the future pension obligations are covered by current assets and contributions, implying that some liability remains unfunded.

Pension Expense

The cost recognized in an accounting period related to the company's pension plan, including both the cash contributions and the change in pension obligation.

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