Compute Conditional Probabilities
-The Managers of a Corporation Were Surveyed $\frac { 44 } { 87 }$

question 135

Multiple Choice

Compute Conditional Probabilities
-The managers of a corporation were surveyed to determine the background that leads to a successful manager. Each manager was rated as being either a good, fair, or poor manager by his/her boss. The manager's educational background was also noted. The data appear below. Given that a manager is only a fair manager, what is the probability that this manager has a college degree?

• A) \(\frac { 44 } { 87 }\)
• B) \(\frac { 11 } { 40 }\)
• C) \(\frac { 79 } { 160 }\)
• D) \(\frac { 79 } { 87 }\)

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Definitions:

Production Increase

An upsurge in the amount of goods or services produced by a company within a specific time frame.

Variable Cost

Costs that change in proportion to the level of goods or services produced, such as materials and direct labor.

Units Sold

The total quantity of products that a company sells during a specific period.

Production Costs

The total expenses incurred in the process of manufacturing or producing goods, including raw materials, labor, and overhead costs.