Records of a Company Show That 15% of the Employees

question 81

Short Answer

Records of a company show that 15% of the employees have only a high school diploma (H), 75% have bachelor degrees (B), and 10% have graduate degrees (G). Of those with only a high school diploma, 12% hold management positions; whereas, of those having bachelor degrees, 58% hold management positions. Finally, 82% of the employees who have graduate degrees hold management positions.
a.What percentage of employees holds management positions?
b.Given that a person holds a management position, what is the probability that she/he has a graduate degree?

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Definitions:

Supply Shift

A change in the quantity of a good or service that suppliers are willing and able to sell at a given price, due to factors other than price itself.

Price Elasticity

A metric for assessing how much demand for a product fluctuates with its price.

Sales Manager

A sales manager is responsible for leading and guiding a team of salespeople in an organization.

Economics Consultants

professionals or firms that provide expert advice and analysis on economic trends, policies, and conditions to businesses, governments, or other organizations.