In a Recent Survey in a Statistics Class,it Was Determined

question 24

Short Answer

In a recent survey in a Statistics class,it was determined that only 60% of the students attend class on Fridays.From past data it was noted that 98% of those who went to class on Fridays pass the course,while only 20% of those who did not go to class on Fridays passed the course.
a. What percentage of students is expected to pass the course?
b. Given that a person passes the course, what is the probability that he/she attended classes on Fridays?

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Definitions:

Consumer Groups

Organizations or collectives that advocate for the rights and interests of consumers, often focusing on issues like product safety and fair pricing.

Deregulation

The process of removing government restrictions and regulations in an industry to allow for more competition and efficiency.

Regulatory Capture

A theory that describes the situation where a regulatory agency, created to act in the public's interest, eventually acts in favor of the commercial or special interests that dominate the industry it is charged with regulating.

Negative Externalities

Costs suffered by a third party due to an economic transaction that they were not a part of, often leading to market failure.