Population Samples Narrative A Sample Is Selected from One of Two Populations

question 109

Essay

Population Samples Narrative
A sample is selected from one of two populations, and , with probabilities P( ) = 0.80 and P( ) = 0.20. If the sample has been selected from , the probability of observing an event A is P(A/ ) = 0.15. Similarly, If the sample has been selected from , the probability of observing A is P(A/ ) = 0.25.
-Refer to Population Samples Narrative. If a sample is randomly selected and event A is observed, what is the probability that the sample was selected from population ? From population ?

Grasp the economic and competitive implications of paying for market advantages such as shelf space or standard-setting.

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Definitions:

Loanable Funds

The supply of available capital in the financial markets for borrowing, which can be used for investment purposes by individuals and businesses.

Future Consumption

The use of goods or services at a later date, often facilitated by saving or investing in the present.

Productivity of Capital Goods

The effectiveness with which capital goods, such as machinery and equipment, produce goods or services.

Loanable Funds

The money available for borrowing in the financial market, originating from people or entities who save some part of their income.