Use Bayes' Theorem to Find the Indicated Probability

question 154

Multiple Choice

Use Bayes' theorem to find the indicated probability.
-At Sally's Hair Salon there are three hair stylists. 23% of the hair cuts are done by Chris, 32% are done by Karine, and 45% are done by Amy.
Chris finds that when he does hair cuts, 7% of the customers are not satisfied. Karine finds that when she does hair cuts, 8% of the customers are not satisfied.
Amy finds that when she does hair cuts, 3% of the customers are not satisfied.
Suppose that a customer leaving the salon is selected at random. If the customer is not satisfied, what is the probability that their hair was done by Amy?

• A) 0.245
• B) 0.324
• C) 0.03
• D) 0.292

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Definitions:

Fiduciary Duty of Care

A legal obligation of one party to act in the best interest of another. When related to fiduciary duty, it specifically refers to the care that should be taken by the fiduciary.

Institutional Investors

Organizations that invest large sums of money in securities, real property, and other investment assets on behalf of their members or stakeholders.

Block of Shares

A large number of shares in a company, usually bought or sold in a single transaction.

State Incorporation Statutes

Laws established by individual states that outline the process, requirements, and regulations for the formation of corporations within their jurisdiction.