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A human resources manager in the IT sector was concerned about unconscious bias in recruitment panels. There were two posts and seven candidates, four men and three women. Theoretically, all the candidates have an equal probability of being hired as they all match the selection criteria. However, the manager has data that suggests that it is more likely men will be hired based on data from across the IT sector and within her own company. However, the manager has implemented many equality initiatives within her company and therefore wants to determine the probability that still no women will be hired. What formula could she use to determine this probability and assess the impact of unconscious bias in her company's recruitment?
Compounded Semi-annually
The process where interest is added to the principal of an investment or loan twice a year, resulting in interest earning interest.
RRSP
Registered Retirement Savings Plan, a Canadian investment account for holding savings and investment assets, aimed at retirement planning.
Month-end Contributions
Payments or deposits made into a particular account or for a specific purpose at the end of a month.
Future Value
The amount of money an investment is expected to be worth in the future, taking into account interest or gains.
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