THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 167

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A student has access to professor evaluations.Overall,he has enjoyed 70% of all classes he has taken.He finds that of the courses he has enjoyed,13% were taught by professors with poor evaluations.84% of the courses he has taken were taught by professors with good evaluations.
-What is the probability that the class was taught by a professor with good evaluations and that the student enjoyed the class?

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Definitions:

Variable Costs

Costs that vary directly with the level of production output, such as materials and labor.

Lawn-mowing

The action of cutting the grass in a yard or garden to maintain its appearance and health.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, freedom of entry and exit, and perfect knowledge.

Fixed Cost

Expenses that do not change in proportion to the activity of a business, such as rent or salaries.