THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 325

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A personnel officer for a firm that employs many part time salespeople tries out a sales aptitude test on several hundred applicants.Because the test is unproven,results are not used in hiring.Forty percent of applicants show high aptitude on the test and 12% of those hired both show high and achieve good sales records.The firm's experience shows that 30% of all salespeople achieve good sales.Let A be the event "shows high aptitude" and let B be the event "achieves good sales".
-What is P(B |A)?

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Definitions:

Depreciation

A reduction in the value of an asset over time, due to wear and tear or obsolescence.

Intermediate Goods

Goods that are used as inputs in the production of final goods, not intended for final consumption.

Inventory

The total amount of goods and materials a business holds for the ultimate goal of resale or production.

GDP

Gross Domestic Product, a measure of the economic output of a country, considered by calculating the total value of all final goods and services produced within that country over a specified period.