Compute Conditional Probabilities
-The Manager of a Used Car Lot $\frac { 63 } { 100 }$

question 146

Multiple Choice

Compute Conditional Probabilities
-The manager of a used car lot took inventory of the automobiles on his lot and constructed the following table based on the age of his car and its make (foreign or domestic) . A car was randomly selected from the lot. Given that the car selected was a foreign car, what is the probability that it was older than 2 years?

• A) \(\frac { 63 } { 100 }\)
• B) \(\frac { 37 } { 100 }\)
• C) \(\frac { 63 } { 122 }\)
• D) \(\frac { 37 } { 122 }\)

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Definitions:

Percentage Commission

A method of compensation where an employee or agent is paid a percentage of the sales they generate or the deals they close.

Intrinsic Rewards

The personal satisfaction and enjoyment derived from completing a task or achieving a goal, independent of external rewards or recognition.

Extrinsic Rewards

Rewards given to employees that are external to the job itself, such as pay, benefits, bonuses, and promotions, aimed at motivating employees' performance.

Internal Promotions

The practice of filling vacancies within an organization by promoting existing employees rather than hiring externally.