In a Management Trainee Program,80% of the Trainees Are Female,while

question 5

Multiple Choice

In a management trainee program,80% of the trainees are female,while 20% are male. Ninety percent of the females attended college; 78% of the males attended college. A management trainee is selected at random. What is the probability that the person selected is a female who attended college?

• A)P (female)P (did not attend college | female)
• B)P (did attend college)P (female | did not attend college)
• C)P (female)P (did attend college | female)
• D)P (did attend college)

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Definitions:

Capital

Man-made physical objects (factories, roads) and intangible ideas (the recipe for cement) that do not directly satisfy human wants but which help to produce goods and services that do satisfy human wants; also called capital goods. One of the four economic resources.

Economic Rent

Any payment to a resource provider or seller of output in excess of the economic cost (opportunity cost) of providing that resource or output.

Economic Rent

The extra income earned by a resource over and above its opportunity cost, often due to natural advantages or market conditions.